The Council will hear an update on the North Core development tonight and consider a revision to the North Core development agreement. The State of Maryland recently agreed to support one location for the FBI at the Greenbelt Metro station, while at least two different Virginia locations are also vying for the development (see here).

We will hear about any new information about what the prospects are for the FBI relocating to Greenbelt Station. The City has an existing agreement in place from October 2005, which included both the North Core and the South Core and required the developer to give $2.5 million to the City for various improvements around the City, to be adjusted for inflation. Half of this amount was to become available at the first major outsale of the North Core, and half of this was to become available at the first major outsale of the South Core.

The funds are meant to go toward improvements at Duvall Field and in the Hollywood Commercial District. The developer was also required to build the Beltway interchange to Greenbelt Metro Station. In exchange, the City agreed to support any proposed development that met the requirements of plans supported by the City prior to that date, while retaining the right to comment on issues such as the height of the buildings, mix of uses, and floodplain mitigation.

Last year, the City Council entered into a new agreement with CRM Mid-Atlantic, the new developer of the South Core, which replaced the old one and required to provide $1.25 million to the City at the time of out-sale of the apartment component of the South Core. Renard Development, which now owns the North Core and is the successor to Metroland developers, has proposed a new agreement with the City.

This proposed new agreement also would require Renard to give the City $1.25 million (adjusted for inflation from the date of the agreement onward) for various improvements to public facilities at the time of first major out-sale, and not to occur later than seven years after the date of the agreement. In exchange, the City would agree to general support any plans incorporating a portion of the North Core by the FBI as long as the plans are in substantial conformance with the plans submitted to the General Services Administration in response to the Request for Information related to relocation of the FBI building. The City would retain the right to address any issue not previously addressed in the RFI response or in the Conceptual Site Plan.

Please let me know if you have any questions.