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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'>Mr. Holmes –<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'>I think the point of finances was discussed ad naseum in January 2013 under the subject ‘State of Maryland Property Tax Assessment.’ I invite you to review those postings for a more through response to the points you are now re-posting.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'>The other point you bring up concerning the Town Center holdings was brought up and explored by the town. There are some significant issues with this approach which is why the ED committee did not recommend that approach:<o:p></o:p></span></p><p class=MsoListParagraph style='text-indent:-.25in;mso-list:l0 level1 lfo1'><![if !supportLists]><span style='font-size:8.0pt;font-family:Symbol;color:#000040'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'>It is not highest and best use – it removes a mulitple revenue streams when tenanted by government vs. a commercial tenant. These streams are in large part responsible for why tax rates have been able to remain constant despite a decline in residential values all while not decreasing services<o:p></o:p></span></p><p class=MsoListParagraph style='text-indent:-.25in;mso-list:l0 level1 lfo1'><![if !supportLists]><span style='font-size:8.0pt;font-family:Symbol;color:#000040'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'>The town has ~1mil already towards this effort, renting this space would almost assuredly disqualify 500k in state funding (with more expected)<o:p></o:p></span></p><p class=MsoListParagraph style='text-indent:-.25in;mso-list:l0 level1 lfo1'><![if !supportLists]><span style='font-size:8.0pt;font-family:Symbol;color:#000040'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'>Build-outs arent free – depending on square footage contemplated the town would have to spend 500k-1.5mil for a space it does not own<o:p></o:p></span></p><p class=MsoListParagraph style='text-indent:-.25in;mso-list:l0 level1 lfo1'><![if !supportLists]><span style='font-size:8.0pt;font-family:Symbol;color:#000040'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'>Assuming the town rented 7000 sq feet on rents of 20 triple net (which would not be out of the ordinary), the town would lose all real estate taxes, be responsible for all maintenance and upkeep, and insurance on top of 140k/year rents. <o:p></o:p></span></p><p class=MsoListParagraph style='text-indent:-.25in;mso-list:l0 level1 lfo1'><![if !supportLists]><span style='font-size:8.0pt;font-family:Symbol;color:#000040'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'>A 3-5mil buildout expansion of the existing town hall would result in annual payments under the 140k/year (gven current interest rates) in rents, plus we do not lose out on real estate taxes, etc.<o:p></o:p></span></p><p class=MsoListParagraph style='text-indent:-.25in;mso-list:l0 level1 lfo1'><![if !supportLists]><span style='font-size:8.0pt;font-family:Symbol;color:#000040'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'>I have spent the last two years getting Douglas Development off the sidelines and they are currently building out their assemblage. For the first time in almost two decades the town has a chance of having retail that is walkable/bikeable for a vast majority of our residents. They have engaged one of the top leasing agents to get commercial tenants in, and are working hand-in-hand with the town and county to expedite these commercial opportunities.<o:p></o:p></span></p><p class=MsoNormal><b><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'><o:p> </o:p></span></b></p><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'>The ‘alternatives’ proposed to where youth can go are all outside of our municipal boundaries and a 1.5-3 mile distance from our town hall and has programming that is all at a cost uncontrolled by Riverdale Park. Additionally, most of the sites require crossing some of Maryland’s busiest intersections with 10s of thousands of cars whizzing by. I am proud that town leadership saw that there were a vast number of underserved youths in town without local facilities and is using this opportunity to bridge that gap. Part of living in a community is realizing that not every cent of every tax dollar will go to benefit yourself. I am proud to live in a community that understands this and supports efforts in providing much-needed voice to those who are rarely heard. <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'>You bring up a fantastic point concerning a referendum. Although we held multiple public hearings on the matter and it was discussed at length at numerous work sessions and legislative meetings, your voice on there has been the lone dissent on the subject. That is not to say there aren’t numerous others out there but in public it is what we have heard loud and clear. According to our charter, a referendum on the matter could be filed by anyone that collects 20% of eligible voter’s signatures in town. Given that this will first come into play for the 2014 budget ordinance you or anyone else would have plenty of time to collect signatures. <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'>As you have also pointed out, elections also serve as a referendum; I stand behind the policy initiatives and the votes I have made over the last two years. I realize you disagree with me on this and a vast array of other issues, but as the saying goes ‘if everyone is happy with you, you aren’t living up to your oath of office.’ <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'><o:p> </o:p></span></p><p class=MsoNormal><b><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'><o:p> </o:p></span></b></p><p class=MsoNormal><b><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'>Jonathan W. Ebbeler | </span></b><b><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#1F497D'>Councilmember – Ward One<o:p></o:p></span></b></p><p class=MsoNormal><b><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#1F497D'>Chair, Economic Development Committee<o:p></o:p></span></b></p><p class=MsoNormal><b><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#1F497D'>Town of Riverdale Park</span></b><span style='font-size:8.0pt;font-family:"Verdana","sans-serif";color:#000040'><br><a href="mailto:jebbeler@riverdaleparkmd.gov"><span style='color:blue'>jebbeler@riverdaleparkmd.gov</span></a></span><o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>