Second Consecutive Year of State Funding Would Help Keep Phase I of City’s Downtown Project on Track
ROCKVILLE, Md., Jan. 28, 2005—Governor Robert L. Ehrlich’s proposed FY 2006 Maryland state budget would provide $1.5 million in funding for Phase I of the Rockville Town Center project, marking the second consecutive year one of the state’s largest downtown redevelopment projects received state financial support.
Ehrlich made the proposal known on Wednesday, Jan. 26, when he unveiled his $2.8 billion Capital Improvements Projects. Rockville Mayor Larry Giammo was present at the State House in Annapolis when Ehrlich announced his proposed budget, which included funding for several projects that directly affect Rockville.
Ehrlich’s budget will be subject to debate in the General Assembly over the next three months before a final budget is adopted in April. Last year, the FY 2005 budget was approved with $1.5 million in capital funding for Rockville Town Center. The District 17 Delegation to Maryland’s General Assembly—including Senator Forehand and Delegates Simmons, Kumar Barve and Michael Gordon—played a key role in keeping that funding in the budget.
RD Rockville, LLC is the private developer of Rockville Town Square, which will encompass about 12.5 acres of the 15-acre Phase I of Rockville Town Center. Rockville Town Square will cost more than $350 million in private and public funds. The project will incorporate the new Rockville Regional Library and a public town plaza as part of a mix that also will include about 648 premiere residences; about 170,000 square feet of retail and restaurant space to be owned by Federal Realty Investment Trust; and four parking garages (three public, one private) with about 1,900 total spaces.
“We are pleased that Governor Ehrlich shows continued confidence in the importance of the development of Rockville Town Center,” said Mayor Giammo. “Rockville has waited a long time for the downtown this City deserves. This funding will help bring the dreams of so many people closer to becoming a reality.”
In addition to the City of Rockville, RD Rockville and Federal Realty, financial support for Phase I of Rockville Town Center has been provided by the state, Montgomery County and the federal government.
The governor’s proposed budget commits about $6.2 million for five school construction projects in Montgomery County, including $2 million for the renovation of Richard Montgomery High School in Rockville. The Mayor and Council have been strong advocates of keeping the Richard Montgomery renovation on schedule.
The old Montgomery County Detention Center in Rockville is slated for $5.2 for renovations in the proposed budget.
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