Councilmember Duchy Trachtenberg attended the monthly meeting of the Silver Spring Citizens Advisory Board held at the Long Branch Community Library on Garland Avenue in Silver Spring.
In her remarks to the Board, Councilmember Trachtenberg discussed a broad range of issues including the recently approved FY10 Savings Plan recommended by the County Executive and the FY11 Operating Budget to be transmitted to the County Council next week. She described the range of possible types of cuts that might be recommended by the Executive and commented that the Montgomery County Government would look very different after the County closes its $761 million budget gap.
With regard to Silver Spring issues, Councilmember Trachtenberg discussed the Silver Spring Library, the Sligo Creek Golf Course Task Force Report, the progress of the Silver Spring Civic Building and Veterans Plaza, the Fillmore Project, the Old Blair Auditorium Project, and the Purple Line. In response to questions from Board members she discussed ambulance fees, transit needs, the Metropolitan Branch Trail, and ways to increase ground level retail in downtown development.
Before the meeting, Councilmember Trachtenberg toured the Long Branch Community Library and observed the very high demand for computer use by residents in the diverse neighborhood. After the meeting, she had dinner at Samantha’s, a popular restaurant near the intersection of Piney Branch Road and University Boulevard. Alan Bowser, our Chief of Staff and a former member of the Silver Spring Citizens Advisory Board, accompanied Councilmember Trachtenberg to the Long Branch event.
Showing posts with label Fillmore. Show all posts
Showing posts with label Fillmore. Show all posts
Tuesday, March 9, 2010
Friday, November 13, 2009
Agreement on Fillmore Silver Spring Signed
County, Lee Development Group Sign Land Donation Agreement for Fillmore Silver Spring
County Gets Silver Spring Property Worth $3.5 Million For Free To Open Fillmore Music Hall
Montgomery County and the Lee Development Group today signed a final agreement permitting the construction of a Fillmore Music Hall on the property which formerly housed the J.C. Penney Company in downtown Silver Spring. After completion of the Music Hall, Lee Development Group will donate the land to the County.
Under the terms of the agreement, Montgomery County receives the $3.5 million property at no cost to create a dynamic new music, entertainment, and community use venue in downtown Silver Spring, a move that will bolster economic development and the music scene for that community and the County as a whole.
The new music hall, to be run under contract by Live Nation, will preserve the historic façade of the old J.C. Penney store site on Colesville Road owned by the Lee Development Group – a site vacant for 18 years -- and build a modern, new music and community use venue behind it. The State of Maryland and Montgomery County will contribute $4 million each – for a total $8 million in public investment -- toward the cost of building the facility, which will be owned by the County. The Music Hall requires no ongoing public subsidy.
An economic impact analysis done by the County’s Department of Finance shows an annual cost to the State and County on projected bond issues as approximately $355,000 and annual direct and indirect income to the
State and County from sales, income, beverage, fuel, and other taxes, as well as rent, as approximately $1,067,000. This results in a net annual profit to the public of $712,000.
When the value of Live Nation’s improvements to the County-owned building and Live Nation’s ongoing and structural maintenance work are included – as well as the value of community use and Live Nation community contributions – the net benefit to the public increases by another $951,000 to a total net public benefit annually of about $1,663,000.
Under the terms of the agreement, the Lee Development Group would also provide for free management services for the construction of the facility, a $500,000 value.
The land donation is intended to serve as the required “public use space and public amenity” that is required for County development projects. Almost always such an amenity is provided in conjunction with a development project. In this case, however, the Lee Development Group is providing the amenity up-front – long before they have a development project on the property adjoining the former J.C. Penney site.
“The County’s vision is to bring a dynamic, first-class music, entertainment, and community use venue that will offer a wide range of musical choices to Silver Spring at the former J.C. Penney site,” said County Executive Ike Leggett. “That’s why the County approached the Lee Development Group with this innovative approach, asking them to donate this key property at the gateway to Silver Spring.
“We want to bring Silver Spring revitalization across Colesville Road and Georgia Avenue. We want more customers for Silver Spring businesses and restaurants.
This location will create a dynamic center of music and entertainment with the American Film Institute and the restored Silver Theater directly across the street.
“This is one more giant step toward delivering that vision,” said Department of Economic Development director Steve Silverman. “Now more than ever, we need to take Silver Spring revitalization to the next level.”
”This complex and groundbreaking agreement is finally signed. Now we look forward to working with the County Planning Department to move this project forward,” said Bruce H. Lee, President of Lee Development Group.
More information on the project is available at www.livemusicss.com
County Gets Silver Spring Property Worth $3.5 Million For Free To Open Fillmore Music Hall
Montgomery County and the Lee Development Group today signed a final agreement permitting the construction of a Fillmore Music Hall on the property which formerly housed the J.C. Penney Company in downtown Silver Spring. After completion of the Music Hall, Lee Development Group will donate the land to the County.
Under the terms of the agreement, Montgomery County receives the $3.5 million property at no cost to create a dynamic new music, entertainment, and community use venue in downtown Silver Spring, a move that will bolster economic development and the music scene for that community and the County as a whole.
The new music hall, to be run under contract by Live Nation, will preserve the historic façade of the old J.C. Penney store site on Colesville Road owned by the Lee Development Group – a site vacant for 18 years -- and build a modern, new music and community use venue behind it. The State of Maryland and Montgomery County will contribute $4 million each – for a total $8 million in public investment -- toward the cost of building the facility, which will be owned by the County. The Music Hall requires no ongoing public subsidy.
An economic impact analysis done by the County’s Department of Finance shows an annual cost to the State and County on projected bond issues as approximately $355,000 and annual direct and indirect income to the
State and County from sales, income, beverage, fuel, and other taxes, as well as rent, as approximately $1,067,000. This results in a net annual profit to the public of $712,000.
When the value of Live Nation’s improvements to the County-owned building and Live Nation’s ongoing and structural maintenance work are included – as well as the value of community use and Live Nation community contributions – the net benefit to the public increases by another $951,000 to a total net public benefit annually of about $1,663,000.
Under the terms of the agreement, the Lee Development Group would also provide for free management services for the construction of the facility, a $500,000 value.
The land donation is intended to serve as the required “public use space and public amenity” that is required for County development projects. Almost always such an amenity is provided in conjunction with a development project. In this case, however, the Lee Development Group is providing the amenity up-front – long before they have a development project on the property adjoining the former J.C. Penney site.
“The County’s vision is to bring a dynamic, first-class music, entertainment, and community use venue that will offer a wide range of musical choices to Silver Spring at the former J.C. Penney site,” said County Executive Ike Leggett. “That’s why the County approached the Lee Development Group with this innovative approach, asking them to donate this key property at the gateway to Silver Spring.
“We want to bring Silver Spring revitalization across Colesville Road and Georgia Avenue. We want more customers for Silver Spring businesses and restaurants.
This location will create a dynamic center of music and entertainment with the American Film Institute and the restored Silver Theater directly across the street.
“This is one more giant step toward delivering that vision,” said Department of Economic Development director Steve Silverman. “Now more than ever, we need to take Silver Spring revitalization to the next level.”
”This complex and groundbreaking agreement is finally signed. Now we look forward to working with the County Planning Department to move this project forward,” said Bruce H. Lee, President of Lee Development Group.
More information on the project is available at www.livemusicss.com
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