Economic Development Committee Meeting on Thursday, Feb. 20, 2025
For Immediate Release: Wednesday, February 19, 2025
Committee will review CIP amendments for the White Oak Science Gateway Redevelopment Project and the Life Sciences and Technology Centers Project and receive an Alcohol and Beverage Services fiscal update
The Economic Development (ECON) Committee will meet on Thursday, Feb. 20 at 9:30 a.m. to review Fiscal Year (FY) 2026 and Amendments for the FY25-30 Capital Improvements Programs (CIP) for White Oak Science Gateway Redevelopment Project and the Life Sciences and Technology Centers. In addition, the Committee will receive a fiscal update from Alcohol and Beverage Services (ABS) representatives.
The members of the ECON Committee include Chair Natali Fani-González and Councilmembers Marilyn Balcombe, Evan Glass and Laurie-Anne Sayles.
More detail on each agenda item is provided below.
White Oak Science Gateway Redevelopment Project
Review: The ECON Committee will review the FY26 Capital Budget and Amendments to the FY25-30 CIP for the nearly $47 million White Oak Science Gateway Redevelopment Project, which is part of the approved White Oak Science Gateway Master Plan . The project provides for the planning and development of a 110-acre site in conjunction with an adjacent 170-acre parcel in a public-private partnership intended to create a combined 280-acre bioscience-focused mixed-use community. The project provides nearly $40 million to assist with the construction of master-planned roads and improvements to FDA Boulevard. The planning, design, site improvement and utility expenditures have been completed.
Life Sciences and Technology Centers
Review: The ECON Committee will review the FY26 Capital Budget and Amendments to the FY25-30 CIP for the $7.67 million Life Sciences and Technology Centers CIP project, which supports enhancements to the County’s life sciences and entrepreneurial climate. In FY25, the project supported the continued conversion of vacant offices at the Germantown center into wet labs and provided interior and technology updates to the Rockville, Silver Spring, and Germantown centers.
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The amended FY25-30 CIP adjusts the project to remove the assumption of $1 million in state aid through the Build Our Future Grant Pilot Program, which was not awarded. The project also recognizes corresponding savings from the completion of the project under budget.
Review: The ECON Committee will receive a fiscal update from ABS representatives. The update will include financial information covering FY24 actual revenues and expenditures and FY25 year-to-date revenues and expenditures. When comparing the first two quarters of FY24 and FY25, ABS retail stores have shown an average of two percent growth year over year. During this same period there was a national downward trend in alcohol purchasing and consumption. However, data from the National Alcohol Beverage Control Association shows overall trends returning to pre-pandemic levels.
The Committee meeting schedule may change from time to time. View the current Council and Committee agendas, Council staff reports and additional information on items scheduled for Council review on the Council website .
Council and committee meetings are streamed live on the Council’s web page via YouTube and on Facebook Live and can be watched on County Cable Montgomery on Xfinity/RCN 6 HD 996/1056, Fios 30, and on the CCM live stream .
Release ID: 25-046
Media Contact: Sonya Healy 240-777-7926, Benjamin Sky Brandt 240-777-7884
For updates and link to press release, see here: http://www2.montgomerycountymd.gov/mcgportalapps/Press_Detail.aspx?Item_ID=46577