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Council to Discuss Proposal to Immediate Transfer of UMD Properties to a Development Company

At tonight’s meeting, the City Council will discuss the potential transfer of 10 parcels of land currently owned by the University of Maryland to the Terrapin Development Company, LLC (TDC) and whether to send comments to the State Clearinghouse.  The TDC is a limited liability company that was formed by the University of Maryland College Park (UMD) and the University of  Maryland College Park Foundation (Foundation).

Transfer of the state land to the TDC requires approval from the Board of Public Works (BPW).  The State Clearinghouse provides notification of the potential disposal of state land and allows for review and comment.   UMD is proposing the immediate transfer of 3 parcels totaling 11 +/- acres and proposing 7 parcels totaling 18 +/- acres be subject to a 10-year exclusive option to acquire, lease or develop.

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1 Comment

  1. Bill Smith

    What is the University getting paid for the land?

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