The long-debated annexation of the Villages of Chesapeake Harbour and approval of a $25 million tax increment financing plan for Park Place are among the items to be considered when the Annapolis city council meets tomorrow night.
The annexation of the 452-unit apartment and townhouse condominium complex has been in the works for 16 years. The council will debate plans that allow a waiver of city taxes for a period as an incentive to bring the valuable community into the city.
Under the Park Place TIF plan, the city would issue up to $25 million in bonds to finance and own a portion of a garage at the $150 million development planned for West Street and Taylor Avenue.
For up to 30 years, property taxes from the improved properties would be dedicated to paying off that debt.
The city's proposed redistricting plan and sale of the Knighton property houses on West Street will be introduced at the meeting, scheduled for 7:30 p.m. in City Hall on Duke of Gloucester Street.