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County executive committee hears concerns about proposed Germantown village-center TID; $6 million Phase 2 gap flagged
Summary
County staff briefed the Washington County Executive Committee on a proposed Germantown tax incremental district that would fund a phased "Village Center" including about 450 apartments and 28,000 square feet of commercial space, but staff said Phase 2 shows a roughly $6 million revenue shortfall.
County staff presented an overview of a proposed tax incremental district (TID) for a “Village Center” development in the Village of Germantown, telling the Washington County Executive Committee that the plan estimates about 450 multifamily units and roughly 28,000 square feet of commercial space and marketplace‑style retail.
The staff member leading the briefing said the plan is phased: “Phase 1 contains most of the residential development. Phase 2 is most of the commercial. And then phase 3 is a little bit of a mix, but it's really very conceptual at this point.” He cautioned that the village’s project plan shows a roughly $6,000,000 revenue shortfall for Phase 2 that would have to be closed by additional revenue, expense reductions or other financing for the plan to be viable as proposed. “I wouldn't expect the village to initiate phase 2 without closing that gap,” he said.
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