Taxing district OK'd for Prime Retail
The Washington County Commissioners formally agreed Tuesday to create a special taxing district for Prime Retail's outlet mall under construction at the Sharpsburg Pike/Interstate 70 interchange.
The additional taxes levied on the mall would pay back taxable bonds issued by the county to pay for improvements on and off the Prime Retail property. The county would not have to pay back the bonds if Prime Retail couldn't make the payments, according to Prime Retail consultants and Washington County Finance Director Debra Bastian.
If Prime Retail can't pay back the bonds, the county could foreclose on the property and sell it, and the new owner would be liable for the bonds.