Private Developer Could Build Md. Interchange
FREDERICK, Md. (AP) — A private developer may step in to help build a new interchange on Interstate 70 east of Frederick.
The proposal to bring Elm Street Development onto the project must be approved by the Board of County Commissioners.
Frederick County Traffic Engineer Ron Burns tells The Frederick News-Post that the proposal would allow planning and construction to go forward without any government money.
Much of the project would be financed by tax increment financing, allowing the company to use future tax gains to pay for it.
The State Highway Administration has estimated that the interchange would cost about $30 million. Elm Street Development vice president Jason Wiley says his company could do it for 15 to 25 percent less.
(Copyright 2013 by The Associated Press. All Rights Reserved.)