Shulman Rogers to Host Councilmembers Riemer and Friedson at Virtual Conference on WMATA Redevelopment Bill
July 26, 2020
To encourage high-rise redevelopment of WMATA properties at Metro stations, the Montgomery County Council introduced Bill 29-20 on July 7, 2020. To eliminate uncertainties under the current ad hoc application of the program, the Bill would require the County’s Director of Finance to offer a payment in lieu of taxes (PILOT) for a residential or commercial high-rise building (8+ stories) constructed by a private developer on property leased from the Washington Metropolitan Area Transit Authority (WMATA) at any of the Metro Stations in the County. The Bill would require the one-time payment in lieu of taxes in accordance with guidelines to be published by the County Executive that would then exempt 100% of the annual real property tax that would otherwise be levied for a period of 15 years beginning in the year a use and occupancy permit is issued for the qualifying development.
A public hearing on the Bill is scheduled for July 28, 2020 at 1:30 pm. Expressions of support can be sent to the Montgomery County Council or to individual Councilmembers. Following the public hearing, the Council GO Committee is anticipated to hold one or more work sessions to discuss the Bill and to make a recommendation to the full Council. The full Council will then act on the Bill.
Shulman Rogers is pleased to announce an upcoming virtual conference with the Bill’s two primary sponsors, Councilmembers Hans Riemer and Andrew Friedson. The video conference will be held on August 26th at 11am and will be advertised via separate notice from Shulman Rogers.
Councilmembers Riemer and Friedson will offer insight into the County’s continuing efforts to promote economic recovery and expansion in our community and share their thoughts on the Bill.
Stay tuned to ShulmanRogers.com for additional details.
If you have questions about this Bill, please contact the Shulman Rogers attorney with whom you regularly work, or feel free to contact a member of our Land Use and Zoning Group.