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At its November 10 meeting, the Town Council voted unanimously to approve a resolution authorizing the appropriation of up to $4 million, subject to certain conditions, for a parks creation project as part of the redevelopment of the Farm Women’s Market site.
The parks project includes the cost of constructing an underground garage behind the current market and the creation of parks above that garage and on the lot between Leland and Walsh streets. It does not include the refurbishment and expansion of the Farm Women’s Market building or land, which is being financed separately by the developers and fees collected from other development in Bethesda. It is expected that the County will be the primary source of public funds for this project. The project also will receive a $7 million payment from the developers for the right to build a seven-story building on a portion of the lot behind the current market. The total cost of the park project has not been finalized, but it could be in the range of $20 - $25 million, which, after subtracting the contribution from the developers, would leave $13 - $18 million in public funds to come from the County and Town.
September 20 Presentation
On September 20, Town residents received an update on the project from EYA, Bernstein Management Corporation, and the County's Department of Transportation. Links to materials from the September meeting are below.