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Kensington redirects up to $800,000 in state bond funds to buy 10415 Montgomery Ave for public parking
Summary
The council adopted Resolution R-23-2024 to shift up to $800,000 from State Bond Bills 23-458 and 23-706 away from the Flats at Knowles Station project to finance acquisition of 10415 Montgomery Avenue for public parking; Town Manager Hoffman said M&T Bank verbally agreed to sell a drive-through property for the appraised $930,000 on July 1, 2025.
The Kensington Mayor and Council voted unanimously Dec. 18 to adopt Resolution No. R-23-2024 to change the project that would receive up to $800,000 in State Bond Bills 23-458 and 23-706 from the Flats at Knowles Station development to the acquisition of 10415 Montgomery Avenue for public use as a parking lot.
Town Manager Hoffman told the council the reallocation followed unsuccessful negotiations with the Flats at Knowles Station developer and said the town has a verbal agreement with M&T Bank to acquire the drive-through property at the appraised value of $930,000 on July 1, 2025. Town Attorney Ferguson said any acquisition through the M&T arrangement will require a separate ordinance and a public hearing before the council.
Council Member Crimmins moved adoption of the resolution; the motion passed unanimously. The council directed the Town Manager to submit a Prior Authorization Request to the Maryland General Assembly to seek the change in bond bill allocation.
