Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Special Community Benefit Districts topic
No spam. Unsubscribe anytime.
Annapolis Road Special Community Benefit District seeks $640,000 loan for property purchases
Summary
The Annapolis Road special community benefit district requested county authorization for a $640,000, 15-year loan from Shore United Bank to buy commercial and residential lots; repayment would be imposed across district residential tax accounts.
At the July 15 work session, the administration told the council the Annapolis Road Special Community Benefit District is seeking county authority to enter a $640,000, 15-year loan from Shore United Bank to acquire commercial property and unimproved residential lots at 2632, 2634 and 2638 Carrollton Road. Ethan Hunt said the district’s association meeting minutes, loan commitment letter, budget request and bylaws were provided to the council. The ordinance would allow the county to impose special taxes on residential tax accounts in the district to repay the loan. Hunt said the purchase of the property had been authorized by a majority of owners within the district. Councilmembers asked no substantive procedural questions during the work session. No vote was recorded; staff said the packet included association minutes and the loan commitment and additional documentation was available to the council.
