County Executive Leopold Announces Agreement of Developer to Build Town Center Boulevard in Odenton
Annapolis, MD (July 6, 2010) - County Executive Leopold today announced that The Halle Companies has agreed to pay more than $12 million to build Town Center Boulevard, the linchpin to realize the vision of Odenton Town Center.
"This agreement is the product of 20 months of work by six different County agencies working with The Halle Companies toward the building of essential road infrastructure necessary for the development of the Odenton Town Center," County Executive Leopold said. "It is exciting to see progress on our most important project in terms of growing our tax base, creating transit-oriented development and adding jobs."
The agreement approved by The Halle Companies is posted on the Anne Arundel County website at http://www.aacounty.org/index.cfm. It must be approved by the Odenton Steering Committee, the Planning Advisory Board, and the County Council. Under the terms of this agreement, The Halle Companies agrees to pay for construction of the road and also provide right-of-way access for a 36-inch water line. The County will provide $6 million in impact fee credits against Halle's development on 130 acres in the Town Center.
"It took extended negotiations to craft a unique document that provides great benefit to the County," said Robert Hannon, president and CEO of the Anne Arundel Economic Development Corporation. "Town Center Boulevard will pave the way for substantial private development creating a multi-use town center that provides services to local residents. The County's agreement with Halle marks the beginning of fulfillment of the community vision for Odenton Town Center."
"This is just the first of many announcements we will have about this important project," County Executive Leopold said. "We are moving forward expeditiously while also working to protect the interests of the taxpayers."