Redevelopment Zone Initiative
The Town Center area is established as a Redevelopment Zone. Projects in this area that meet the requirements of the Business Growth Grant are eligible for the benefit. Approved applicants are exempt from the Town’s building permit fees and one-year of the Town’s business license fee, following the completion of the redevelopment project.
Eligible Applicants - Any for-profit business compliant with State, County, and Town requirements. All taxes and fees must be current at the time of application and remain current as a requirement of the grant. A claw-back provision applies.
Geographic Boundary - Town Center Redevelopment Zone Map
Max Award - Benefit not-to-exceed $7,150 value
Open Period - Applications are accepted on a continual basis. This program will end on June 30, 2020, unless reauthorized by the Mayor and Council.
Required Match - Minimum investment of $50,000 in hard construction costs.
Use Restriction - Not applicable.
Limitation - This business benefit initiative does not waive any permit or development related fees imposed by the State, County, WSSC, or any agency outside of the Town.
Illustration - A tenant fit-out may incur Prince Georges County building permit fees of $2,000. The Town’s building permit fees are 75% of the County’s fees or fifteen-hundred dollars ($1,500). Waiving the Town’s building permit fee provides a benefit of $1,500.
All programs and initiatives are subject to funding availability and the Town reserves the right to amend, modify or cancel this program at any time with or without notice.