Caves Valley Partners, the developer of Towson Row, has agreed to pay an additional $95,000 in open space waiver fees, beyond the $55,000 that the company is required to pay Baltimore County.
The deal was struck in late December and recently announced that the additional money will be paid to two community groups, the
Some developers in booming downtown Towson will pay greater fees than previously required to help pay for creation of new parks and open space under a plan approved by the Baltimore County Council on Monday.
Legislation sponsored by Councilman David Marks, a Republican who represents Towson, was more than a year in the making and
On Monday night, the Baltimore County Council will vote on my resolution to modify Downtown Towsonthe county’s open space fees.My constituents universally agree that if developers in Downtown Towson cannot meet the county’s open space requirements, they should pay some amount to provide open space or other amenities near their projects.
Monday night’s resolution
The developer of The Flats, a 105-unit, market-rate apartment building planned in Towson, has agreed to pay $150,000 in open space waiver fees, not $5,000, as previously proposed.
Under the terms of a settlement brokered by Baltimore County Councilman David Marks, the developer, Federal Realty Investment Trust, will pay 60 percent of the fees
The Baltimore County Council has again delayed a decision whether to increase the fees that developers pay when they don’t include sufficient open space in their projects.
At the request of County Councilman David Marks, the council on Monday postponed a vote on a bill that would increase the fees for developers in Towson.