Anne Arundel County seeks acquisition of property for public use through a capital plan that benefits from 30-year bond financing.
From the Office of the County Executive:
An incrementally new school has not been built in North County area since 1972. Anne Arundel County has not built a new park in the area for 30 years. Schuh has proposed $28 million in his FY2019 budget proposal to purchase for land to schools, parks, and other public assets.
The County will work to develop the land for public purposes as the City of Baltimore works to redevelopment Port Covington, which is less five miles away and is expected to generate thousands of new jobs.
The capital funding proposal was made possible through the JumpStart Anne Arundel capital project financing program. Enacted in 2015, the capital plan embraces a 30-year bond financing option. This reform has allowed Anne Arundel County to expand its capital funding program and make critical school, public safety, road, and quality of life infrastructure improvements from Brooklyn Park to Pasadena to Annapolis to Odenton.
MACo has advocated in the past for extension of the State’s bond lengths for school construction to help address shortfalls in funding for school construction and renovation. While the idea of creating a separate State authority to issue longer length debt was considered by the 21st Century School Facilities Commission, the idea did not ultimately make its way into the legislation.