January 16, 2012 – (RealEstateRama) — County Executive Ike Leggett today announced that Montgomery County has forged an agreement with the Clarksburg Development Team of David Flanagan, Bernard Rafferty and Donald Knutson, that will allow Clarksburg to move forward by funding the completion of major roads there, and assure that developers will hold Clarksburg property owners harmless for tens of thousands of dollars in fees they had been obligated to pay under Clarksburg Development District agreements.
In a Letter of Intent, the Clarksburg Development team has agreed to complete construction of Snowden Farm Parkway to MD Rt. 27; Little Seneca Parkway to MD Rt. 355; and Intersection of MD Rt. 355 and Brink Road, and the County Executive has pledged money in the Capital Improvement Projects (CIP) to contribute to completion of those major road projects.
The Clarksburg Development Team represents interests of the Arora Hills and Clarksburg Village Developments and holds rights to the development district fees that homeowners in their developments are responsible for under development districts established by the County Council.
In exchange for this contribution the Development Team has agreed to eliminate the development district fees and to withdraw their request to the County Council for legislation that would create extensive transportation impact tax credits that would have implications Countywide.
“This agreement gets Clarksburg homeowners ‘off the hook’ for tens of thousands of dollars in fees that could have been collected by developers under the development district law established by the County Council, “ said County Executive Ike Leggett. “It also ensures that developers will complete needed road projects. I appreciate the good work of Councilmembers Craig Rice and Nancy Floreen in working with me on resolving this contentious issue that has impacted the future development and full potential of Clarksburg.”
“While there are still areas of development in Clarksburg that need to be addressed by the Developers, this is a tremendous boost to the infrastructure that will spur commercial and further residential development,” said Leggett. “The elimination of the development district fees that could have been assessed against homeowners over a 25 year period of time will provide a great relief to homeowners. Finally, this Agreement eliminates the need for that portion of pending legislation in Bill 21-11 that may have extended transportation impact tax credits to parts of the County outside of Clarksburg. That, in my opinion, would have resulted a significantly negative impact Countywide.”
Patrick Lacefield 240-777-6507