Looks like Swan Point will be getting it's fancy new hotel after all! The Charles County Commissioners voted to approve the Tax Incremental Finance (TIF) Bond recently, which will pave the way for the development infrastructure there.
Under the tax incremental financing, agreement, the county will issue $26 million in public bonds to fund the project’s infrastructure. The debt service for those bonds would be repaid using a portion of the new taxes generated by the increased property value that would result from the project’s improvements on the land.
Link- County approves special financing for Swan Point
I'm excited to see what the final plan will actually look like! This project looks to be a great opportunity for the county, and has the potential to make swan point a first class resort destination! I will update more information as the development grows, so check back from time to time for new information! If you have any questions or comments, I'd love to hear more views on the new development and growth plans!
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