County approves 20-year agreement for Urbana projects

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Source: Frederick News Post
Author: Bethany Rodgers
Article Type:
Date Published: 06/05/2013

County commissioners Tuesday gave their stamp of approval to a 20-year agreement with developers of the Villages of Urbana, the Urbana Office Research Center and other nearby building projects. Crafting a development rights and responsibilities agreement is important “so we all understand the ground rules and so investment can be made in the right ways,” said Thomas Natelli, president and CEO of Monocacy Land Co. and managing member of other involved development companies. The contract covers the roughly 300-home unbuilt portion of the Villages of Urbana, a large development north of the intersection of Md. 80 and Md. 355. It also applies to the Urbana Office Research Center, the site of the Fannie Mae data center. The Urbana Town Center and Worthington Square projects, slated for 610 and 72 homes respectively in addition to employment and commercial space, also fall under the agreement.