The Howard Hughes Corporation® Announces the Initial Funding of TIF Infrastructure for Downtown Columbia, Maryland
Howard Hughes Corporation (The) (HHC)
Last howard hughes corporation (the) earnings: 2/27 04:26 pm
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Source: Business Wire
COLUMBIA, Md.--(BUSINESS WIRE)-- The Howard Hughes Corporation® (NYSE: HHC) announced today the closing of the first tranche of $48 million of a $90 million Tax Increment Financing (TIF) Bond Authorization, which will provide for a variety of public improvements including major roadways in the Merriweather District in Downtown Columbia. The TIF repeal legislation previously proposed by two county council members was rejected on October 2, 2017, and litigation introduced by a consortium of competing developers opposed to the TIF was dismissed in circuit court on October 13, 2017. “We are excited that in this 50th anniversary year celebrating the founding of Columbia, we are able to begin the development of the long-envisioned downtown,” said County Executive Allan H. Kittleman. “Today’s tax increment financed bond sale was as successful as we could have hoped for, reflecting the bond market’s
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