Hogan, McAuliffe Offer Truckloads Of Cash In Attempts To Win FBI Bid
With the GSA's decision on the FBI HQ coming later this year, political leaders in Maryland and Virginia are pledging hundreds of millions of dollars in infrastructure improvements aimed at luring the agency to bring its 11,000 mostly high-paying jobs to their respective states.
Maryland Gov. Larry Hogan has pledged $317M for improvements if the Greenbelt site is chosen or $255M for the Landover site, while Virginia Gov. Terry McAuliffe has offered around $120M of investments around the Springfield site, the Washington Post reports.
In a letter, Hogan outlined his plans to invest $220M improving Greenbelt's roads and intersections to make the FBI campus more accessible. He plans to get the bulk of that money from the state's transportation trust fund, with the rest subject to General Assembly approval. In addition, Prince George's County officials have offered $97M to build a new parking garage for the Greenbelt site.
McAullife also pledged to make road improvements around the Springfield site, specifically to the Fairfax County Parkway and to I-95. He also has shouldered the responsibility of finding a new Virginia location for the CIA facility that sits on the Springfield site, which could cost another $210M.
Bids for the HQ are due today, with the GSA looking to trade the Hoover building site on Pennsylvania Avenue and as much as $1.8B in cash to a developer who can provide a 2.1M SF secure campus for the FBI in the suburbs. Lerner Enterprises, Boston Properties and Vornado are among the developers vying for the biggest real estate prize in the region.
Key members of the administrations of both McAuliffe and Hogan will discuss incentive packages just like these at Bisnow's Property Management and Leasing Forum next month. [WaPo]
