The Trachtenberg Office joined Montgomery County Council President Nancy Floreen, members of the County Council, representatives of County Executive Isiah Leggett and the leaders of some of the most prominent businesses located in the Washington area to announce a proposal to form a new Montgomery Business Development Corporation (MBDC) that will have the County’s Department of Economic Development join with private businesses to promote business development in the County.
The announcement of the County Council bill authorizing formation of the MBDC was made in the lobby of Discovery Communications World Headquarters at One Discovery Place in Silver Spring. Discovery, whose 100-plus worldwide networks include the Discovery Channel, TLC and Animal Planet, and Marriott Corporation, which is headquartered in Bethesda, are among the businesses that have pledged to be involved in the MBDC to help attract businesses of various interests and sizes to join them in Montgomery County.
“I am pleased to support the proposal for a Montgomery Business Development Corporation,” said Councilmember Trachtenberg. “I believe that, working closely and collaboratively together with the private sector, we can create a more dynamic and sustainable business and economic environment that will ensure a prosperous future in Montgomery County. Our long-term vision for the County must include plans for increasing employment and revenues, while reducing the barriers to business formation and growth. The MBDC can be an important cornerstone for restoring our County’s regional business leadership."
The bill calls for the MBDC to have a board of directors of no more than 11 members—including one volunteer officer of a Chamber of Commerce in the County. Appointees would be recommended by the County Executive, subject to confirmation by the Council. In addition, the County’s director of the Department of Economic Development, the superintendent of Montgomery County Public Schools (or a deputy superintendent assigned by the superintendent) and the chair of the County Planning Board (or the planning director assigned by the chair) would serve as ex-officio non-voting members. All voting members must either be a County resident or employed in the senior management of a company that has a significant presence in the County. Up to eight board members would represent “major” companies. One board position would be reserved for an owner of a small business and another position would be for the owner or officer of a “medium-sized” business.
Our Chief of Staff, Alan Bowser, represented Councilmember Trachtenberg at this morning’s announcement.
Showing posts with label business. Show all posts
Showing posts with label business. Show all posts
Monday, April 26, 2010
Friday, February 26, 2010
Montgomery County Business Advisory Panel
The Trachtenberg Office was represented at the 11th Annual meeting of the Business Advisory Panel. The Panel is convened by the County’s Office of Finance.
The County Council of Montgomery County established the BAP in 1999 to seek the advice of industry experts in key sectors of the County’s business community concerning the current and future state of the County’s economy. The law requires that the Director of the Department of Finance convene the panel annually and relay the panel’s advice to the County Executive and the County Council.
The BAP consisted of members representing the real estate, biotechnology, academia, government and trade associations. The meeting was structured to allow participants to brief the panel on the local economic trends and to share their insights about future economic prospects in the County. The participants also discussed the Department’s economic assumptions for the next six fiscal years.
Our Chief of Staff Alan Bowser represented Councilmember Trachtenberg at the meeting.
County Economic Information and Business Advisory Panel Reports can be viewed here.
The County Council of Montgomery County established the BAP in 1999 to seek the advice of industry experts in key sectors of the County’s business community concerning the current and future state of the County’s economy. The law requires that the Director of the Department of Finance convene the panel annually and relay the panel’s advice to the County Executive and the County Council.
The BAP consisted of members representing the real estate, biotechnology, academia, government and trade associations. The meeting was structured to allow participants to brief the panel on the local economic trends and to share their insights about future economic prospects in the County. The participants also discussed the Department’s economic assumptions for the next six fiscal years.
Our Chief of Staff Alan Bowser represented Councilmember Trachtenberg at the meeting.
County Economic Information and Business Advisory Panel Reports can be viewed here.
Tuesday, January 19, 2010
Councilmember Trachtenberg Introduces Development Oversight Legislation
At this morning’s County Council session, Councilmember Trachtenberg introduced new legislation to require oversight and coordination of new complex development in Montgomery County. Trachtenberg is Chair of the Council’s Committee on Management and Fiscal Policy.
Joining Councilmember Mike Knapp, Chairman of the Committee on Planning, Housing and Economic Development as original co-sponsors are Councilmembers Phil Andrews (D-District 3) and Roger Berliner (D-District 1)
Bill 1-10 amends the County’s laws governing coordination of development and “provides further coordination and oversight of master-planned development … and further coordination and oversight of development districts.”
The bill directs the county executive to designate an employee in the Office of the Executive or in the Office of the Chief Administrative Officer as the development coordinator for each planning area for which a newly revised master or sector plan has authorized intensive new development or redevelopment. The coordinator would oversee the financing and development of County infrastructure in the planning area. The coordinator also would serve as the primary point of contact for residents and businesses located in the planning area and the developer of any development located in the area.
In her remarks during the Council session, Councilmember Trachtenberg discussed the need for oversight and coordination for complex. “I am looking forward to the conversation with the community, homeowners, business and developers about this proposal,” said Trachtenberg. She said that the proposal would be discussed in a joint work session of the Committee on Management and Fiscal Policy and Committee on Planning, Housing and Economic Development.
A press event with representatives of the business community, developer community and civic community is scheduled for Wednesday, January 20, 2010 at 11 a.m. in the Council Office Building in Rockville, Maryland.
Joining Councilmember Mike Knapp, Chairman of the Committee on Planning, Housing and Economic Development as original co-sponsors are Councilmembers Phil Andrews (D-District 3) and Roger Berliner (D-District 1)
Bill 1-10 amends the County’s laws governing coordination of development and “provides further coordination and oversight of master-planned development … and further coordination and oversight of development districts.”
The bill directs the county executive to designate an employee in the Office of the Executive or in the Office of the Chief Administrative Officer as the development coordinator for each planning area for which a newly revised master or sector plan has authorized intensive new development or redevelopment. The coordinator would oversee the financing and development of County infrastructure in the planning area. The coordinator also would serve as the primary point of contact for residents and businesses located in the planning area and the developer of any development located in the area.
In her remarks during the Council session, Councilmember Trachtenberg discussed the need for oversight and coordination for complex. “I am looking forward to the conversation with the community, homeowners, business and developers about this proposal,” said Trachtenberg. She said that the proposal would be discussed in a joint work session of the Committee on Management and Fiscal Policy and Committee on Planning, Housing and Economic Development.
A press event with representatives of the business community, developer community and civic community is scheduled for Wednesday, January 20, 2010 at 11 a.m. in the Council Office Building in Rockville, Maryland.
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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