ANNAPOLIS — Maryland officials on Wednesday voted to formally begin the process of issuing up to $400 million in bonds for developing an area around FedEx Field in Prince George’s County.
The Maryland Board of Public Works, which is comprised of Gov. Wes Moore, Comptroller Brooke Lierman and Treasurer Dereck Davis, voted 3-0 for a memorandum of understanding for the development. It was the first board meeting with Moore and Lierman on the powerful state panel.
A convention center, an arts and entertainment amphitheater and other infrastructure improvements, including parking garages, are part of the Blue Line Corridor plan in the central part of the county in suburbs of the nation’s capital.
“This is going to be an economic game-changer for Prince George’s County and for the state, the community surrounding the Blue Line Corridor and a great win for our state and for our region,” Moore said.
State and local officials have emphasized the plan is to develop the area regardless of where the NFL’s Washington Commanders decide to play after the team’s lease ends in 2027 at FedEx. None of the money in the $400 million package will go directly to the team for a new stadium. The bonds will be issued through the Maryland Stadium Authority.
“In addition to this bonding authority, we are investing in projects up and down the Blue Line including infrastructure improvements at Metro stations, a state-of-the-art cancer center and many more projects that are focused on transit-oriented growth,” Prince George’s County Executive Angela Alsobrooks told the board.
The Maryland General Assembly approved the bonding plan last year, and then-Gov. Larry Hogan signed the legislation.
Brian Witte reports for The Associated Press.