Laurel recommended for development district designation

“Laurel is a town like most American towns that suffer from loss of economic development as society changed from the 50’s into the 60’s people got more mobile and jumped in their cars and went to the surrounding large malls. It was hard for local businesses  to continue to make a profit,” said Laurel’s town Mayor, John Shwed.

Shwed is a member of the Town committee that drew up a plan and applied for the Development District Designation for its downtown area. Earlier this month, a state board recommended they be granted $8.5 million. With that money, Mayor Shwed tells 47 ABC they could redevelop some 71 acres starting from the creek in downtown Laurel.

The application they submitted includes a new pub to attract millennials; a nature based park and several clothing stores throughout the downtown area. Incentives for current residents are also a part of the plan.

“Historic preservation tax credits is one of the most important things that homeowners would have available to them. If they make improvements to their home inside that designated area they would qualify for tax relief,” said Shwed.

In an attempt to attract businesses to the town, the plan also has an incentive of no property tax on commercial improvements for five years. Locals say this is something the town needs.

“I’d love to see some renovations of the housing here. We’d love to see some different art spaces and different eateries maybe a sushi or a Thai restaurant here and there,” said Laurel resident Tameca Beckett.

“It’s good for the children,” said another Laurel resident. “Keeps them off the streets and out of trouble. Yea, downtown could be – really could be fixed up and very vital.”

47 ABC will be present at the official announcement of the development resignation, Wednesday, August 10.