Speaker numbers apply only to this recording.
The Hyattsville City Council met virtually on Monday, July 13, 2026, at 7:00 PM to discuss a range of routine and substantive items. Key actions included approving several proclamations, appointments, and consent items; adopting a resolution to refund University Town Center bonds; approving changes to retiree health benefits; and authorizing a letter to the Prince George's County Council regarding proposed Accessory Dwelling Unit legislation. Two agenda items related to the Sanctuary at Hyattsville Crossing PILOT were removed prior to the meeting. The Council also held a closed session to obtain legal advice on a business license.
Unmute yourself. Once again, um when I got bounced off, Mr. Brooks was about to um speak. That was the last thing that took place. You want to pick up from there or do this? Yeah, let's do that. All right, thank you. Um thank you, Mr. Marshall, for the um for the question. Can everyone hear me? Yes, we can hear you. Yeah, so the the first question or part of your question was um who requested this? This was requested on behalf of the owners and the operators out at the uh University Town Center UTC project. We do have uh Charles on board who represents that entity out there, and then again as it rates as it relates to the rate itself. Uh once again, Mr. Sutsina uh bond council to address that issue relative to the rate here again. That's not a rate that we the city, the city has no uh obligation for repayment of these bonds. It's all uh on the uh uh uh the liability of the owners of the UTC. So hopefully I hope that answers your questions, Mr. It does. It does. The the other thing that I wanted to ask is what how does this benefit the city? What is what is the upside uh in this for the city of Itsville? I'm gonna I'm gonna yield to either uh bond comms on that or Mike or Chris. Yeah, um I'm I'm happy to take that, Ron, and you know if others want to jump in, but we've we've done a number of these uh refinancings in the state of Maryland for different jurisdictions, including uh Prince George's County itself. And the the benefit is is is simple, it's an up uh opportunity to reduce the amount of special taxes paid by the residents of that particular jurisdiction. So, you know, from from my seat, the you know the city of Hyattesville is undertaking this transaction uh to essentially lower that special tax payment on an annual basis going going forward. So if I understand you correctly, the benefit is to the property owners, and there is no direct benefit to the city itself. This mainly benefits the property owners. Do I understand that correctly that's I mean there may be other benefits, but from from my point of view, it's a lowering of taxes for some of the citizens within uh within the jurisdiction. So I don't know uh if Chris, if you have other thoughts or or that's good enough. That's good enough. I I get your point. I I don't mean to cut you off, but I know they have a time limit, so I I get your point. The last thing I will say to the mayor and council is once again if it's currently capped at five percent, that cap should stay. Thank you for letting me have my time. All right, thank you, Mr.