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EDAB Loan Sub-Committee reviews Route 40 pilot to fund hookup fees and speed permitting
Summary
At the Feb. 25 Loan Sub-Committee meeting, DED staff presented a draft Route 40 pilot to spur redevelopment by offering expedited permits and up to $300,000 in interest-free, repayable loans for water and sewer hook-up fees; repayment details and program fit with current EDOF limits remain undecided.
At its Feb. 25 meeting in Bel Air, DED staff member Raj Goel presented a draft Route 40 pilot that would allow applicants rehabilitating existing industrial or commercial structures to receive expedited permit processing and apply for up to $300,000 in interest-free, repayable loans to cover water and sewer hook-up fees.
The proposal, described by Raj as a pilot, would expire the earlier of July 15, 2026, or after one or two projects have been approved. Committee members emphasized that repayment terms have not been decided and that further analysis is needed to determine whether the pilot should operate within the current Economic Development Opportunity Fund (EDOF) constraints, which currently cap loans at $200,000 and set a 3% interest rate.
Committee discussion noted that EDOF loans are always cross-defaulted and cross-collateralized and would be subordinated to the project’s primary lender. Raj said he would confer with other stakeholders, including the EDAB Land-Use Sub-Committee (scheduled for Feb. 27), to further evaluate the draft and refine terms before bringing recommendations back to the committee.
Members also expressed interest in exploring similar incentives for redevelopment along the Route 22 corridor. No formal vote or approval occurred; the draft remains under staff review with follow-up to the Land-Use Sub-Committee and subsequent internal evaluation steps recommended.
The most immediate next steps are Raj’s presentation to the Land-Use Sub-Committee and further staff analysis of repayment terms, potential allocation of EDOF funds for the pilot, and preparatory outreach to the County Council and County Executive about any required authorization.
