MuniCap, Inc.MuniCap, Inc.Howard County participated in the redevelopment of the surface parking at the Savage Marc Station to create Annapolis Junction Town Center, a high-density, mixed-use, transit-oriented city center. The redevelopment consists of 100,000 sf of Class A office space, 17,450 sf of retail space, a 150 key hotel, 416 apartment units, and 700 structured parking spaces. Howard County issued $17,000,000 in bonds to fund construction of a multi-level commuter parking garage, roadways, utilities, improvements to the Marc station, lighting, landscaping, and traffic improvements. The bonds are secured by real property tax increment revenues and state BRAC revenues, with a backup special tax to ensure sufficient revenues to repay the bonds. The county will have no liability for the repayment of the bonds other than the pledge of the incremental real property taxes.