This browser does not support the Video element.
Renewed focus on Prince George’s Co. economic future
Leaders in Prince George’s County are outlining new plans for the future of the county’s economy, including a proposal to bring a smaller version of the Sphere to National Harbor.
NATIONAL HARBOR, Md. - Leaders in Prince George’s County are outlining new plans for the future of the county’s economy, including a proposal to bring a smaller version of the Sphere to National Harbor.
FOX 5’s Maureen Umeh reports that Monday’s vote is not on whether to build the Sphere. Instead, council members will decide whether to establish the financing framework that could eventually help pay for the project.
RELATED: Proposed Sphere could be National Harbor's tallest venue
Last week, the County Council’s Committee of the Whole advanced the measure to the full council without a recommendation. If approved Monday, the county would create a special taxing district around the proposed Sphere site at National Harbor. Officials say future tax revenue generated within that district would be set aside in a dedicated fund that could help finance the project.
The county has already announced an incentive package worth about $200 million, made up of state, local and private funding. Still, some council members say they have unanswered questions, including how much debt the county could ultimately assume, how long tax revenues might be committed, and what happens if the project fails to generate the expected revenue.
Renewed focus on Prince George’s Co. economic future, including proposed National Harbor Sphere
Council members also raised concerns about traffic near the Woodrow Wilson Bridge and whether the Sphere’s illuminated exterior could affect nearby residents.
Supporters argue the project would build on National Harbor’s success and help Prince George’s County compete with major entertainment destinations in D.C. and northern Virginia.
Monday’s vote would not approve funding or construction of the Sphere. It would only establish the financing structure that could be used if the project receives final approval.
Renewed focus on Prince George’s Co. economic future, including proposed National Harbor Sphere
The Source: Information in this article comes from Prince George’s County Council and previous FOX 5 reporting.