University Park Council Gives Conditional OK to Cafritz Rezoning

After months of discussion, debate, and negotiation, the University Park Town Council gave its conditional backing to the proposed rezoning of the Cafritz property Monday night.

The town's support—which the council conferred by a 4-3 margin—is predicated on a long list of conditions agreed to in talks with the developer, ranging from traffic and environmental restrictions to funding requirements and a timetable for certain project elements.

The bulk of those terms were drafted during meetings between representatives from University Park, Riverdale Park, College Park, Prince George's County, and the Cafritz team.

One key component—the funding and timing of a planned crossing over the CSX tracks—was finalized late Sunday night, Mayor John Tabori said.

The agreement calls for the developer to pay for half of the total cost of the crossing up to $5 million, while rest of the funding would come through a mechanism known as tax increment financing.

TIF bonds are typically issued to fund public improvements around a new development and then gradually repaid out of the tax revenue increases generated by that development. (For a general overview of TIF, consult this primer the Maryland Department of Planning.)

The timing of other project elements is linked to permit and right-of-way approvals for the bridge (or underpass), restricting the ability of the developer to build out the site until the construction of crossing is guaranteed.

The town's stance will be submitted to the Prince George's County Planning Board, which is set to weigh testimony and written submissions on the project during a hearing on Thursday.

The Riverdale Park Town Council—which also met Monday—postponed its final vote on the Cafritz project until Tuesday night.

Patch will have more on this story shortly.