The Howard County Council passed an affordable housing and $90 million tax increment financing (TIF) legislative package to push forward the 2010 plan to redevelop downtown Columbia.
The package will help guarantee the development of affordable housing for residents of all income levels, as well as the construction of infrastructure. That would include a public parking garage to support the growing downtown area.
The number of residential units will total 6,400 – the 5,500 as approved in the Downtown Columbia Plan and 900 affordable units.
Columbia's master developer, Howard Hughes Corp., will invest hundreds of millions of dollars into the project.
The redevelopment is expected to generate $1.68 billion in revenue for Howard County.
Allan Kittleman commended the plan's passage in a statement.
"As development moves ahead, the County now will be able to keep up with planned growth and provide support for a new arts and cultural center, library, fire station, transit center and elementary school," he said. "This package ensures a bright future for Downtown Columbia and its many amenities, including Merriweather Post Pavilion."
An description of the plan is available here and here.
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