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State official outlines loan pool for Chesapeake Beach water‑park financing; town contractor work progressing
Summary
A Maryland infrastructure finance official told Chesapeake Beach council the state’s pooled bond program could supply long‑term, tax‑exempt loans for the town’s proposed water park if the town applies by March 3; town staff said the water‑park contract is signed and the project manager may be onboard within weeks.
A Maryland Department of Housing and Community Development official told the Chesapeake Beach Town Council on Jan. 15 that the state’s Local Government Infrastructure Finance Program could provide tax‑exempt, pooled bond financing for the town’s proposed water park if the town meets application deadlines and legislative requirements.
Charlie Day, who said he helps administer the state program, told the council the mechanism pools multiple local governments to achieve economies of scale and lower interest rates for smaller municipalities. “We have an application deadline of…
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