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BOARD OF COUNTY COMMISSIONERS
August 21, 2018
OPEN AGENDA
08:00 A.M. INVOCATION AND PLEDGE OF ALLEGIANCE
CALL TO ORDER, President Terry L. Baker
08:05 A.M. CLOSED SESSION
(To consider a matter that concerns the proposal for a business or industrial organization to locate, expand, or remain in the
State; and to consult with counsel to obtain legal advice on a legal matter.)
09:05 A.M. RECONVENE IN OPEN SESSION
09:10 A.M. COUNTER PROPOSAL TO PURCHASSE THE REMAINING LANDS OF CASCADE
TOWN CENTRE – Jim Sterling, Director, Department of Public Works
09:30 A.M. ADJOURNMENT
President
Jeffrey A. Cline, Vice President
John F. Barr
Wayne K. Keefer
LeRoy E. Myers, Jr.
WWW.WASHCO-MD.NET
Open Session Item
SUBJECT: Counter Proposal to Purchase the Remaining Lands of Cascade Town Centre
PRESENTATION DATE: August 21, 2018
PRESENTATION BY: Jim Sterling, Director Public Works
RECOMMENDED MOTION: Reach consensus as to the County’s response to the Counter
Proposal of the terms and conditions of sale.
REPORT-IN-BRIEF: On August 2, 2018 the Board presented JG Business Link International
with an “Agreement of Sale of Real Property” for the remaining lands of Cascade Towne Center.
On August 16, 2018, JG Business Link International presented the Board of County
Commissioners with a Counter Proposal from Issac Holdings, LLC. for the purchase of the
remaining lands of Cascade Towne Center. County Staff has reviewed the counter proposal in
detail and is seeking discussion with the Board to receive input and direction in response to the
Counter Proposal.
DISCUSSION: Issac Holdings, LLC. is interested in redeveloping the remaining lands of
Cascade Towne Center. The Company will purchase the site, work with JGBLI to promote the
project to the South Korean Government for the infrastructure improvements, oversee the project
development, and prepare the site for parcel, sale and lease.
FISCAL IMPACT: Revenues equal to the sales price of $6,000,000 less applicable expenses.
CONCURRENCES: Pending further discussion
ALTERNATIVES: At the Board’s discretion
ATTACHMENTS: N/A
AUDIO/VISUAL NEEDS: N/A
Board of County Commissioners of Washington County, Maryland
Agenda Report Form