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Committee backs PILOT and $3.5M trust‑fund loan for Flats at Glenridge Station
Summary
Council staff and the county executive urged favorable consideration of a PILOT and $3.5 million Housing Investment Trust Fund loan to support a 245‑unit affordable rental project at Glenridge Station; the committee voted to move the items favorably.
Prince George’s County councilors on Nov. 10 recommended favorable action on a payment‑in‑lieu‑of‑taxes (PILOT) agreement for the Flats at Glenridge Station and on a related $3,500,000 allocation from the county Housing Investment Trust Fund to provide gap financing.
Council staff summarized that Dominion Incorporated plans to form an entity to develop a 245‑unit affordable rental housing community for families earning 60% or below the area median income (AMI).…
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