Raincliffe center developer to seek loan extension SOUTHEAST/Sykesville Eldersburg Gamber

June 01, 1993

The developer of Raincliffe Industrial Center in Sykesville will ask the county Office of Economic Development to extend the terms of a loan negotiated in July.

Dave Moxley will meet with county officials at 3:30 p.m. today in the County Office Building.

Extension of the public financing agreement for the industrial parcel on Raincliffe Road at Route 32 would allow Sykesville to proceed with plans to borrow $1.25 million from the state and $250,000 from the county for the center's infrastructure.

Mr. Moxley said he has not been able to obtain private financing for his part in the 32-acre development. He has several prospects for the seven sites in the center, he said, and is optimistic about finding loan sources soon.

If the county approves the extension, he will also seek state approval. The loan agreement expires July 1.

"If the site is completely occupied, it could generate 25 percent of the town's tax receipts and provide employment," said Mayor Kenneth W. Clark. "It makes good sense to extend the loan."


* Sykesville: Engines from Sykesville, Gamber, Winfield and Liberty Road in Baltimore County responded for a chimney fire on Oak View Drive at 6:44 p.m. Friday. They were out 26 minutes.

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