BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 23, 2012
M.J. "Jay" Brodie, who has headed Baltimore's economic development agency under four mayors and helped shepherd projects such as the Harbor East redevelopment, said Thursday he plans to retire. The Baltimore native and former city housing commissioner is credited with overseeing initiatives to create thousands of jobs and to attract and keep hundreds of businesses in the city during his 16 years as president of the Baltimore Development Corp., the city's quasi-public economic development arm. Brodie, viewed as highly influential in city development, also has drawn criticism from residents and business owners who have complained about being pushed out by urban renewal and about the secrecy under which they say his agency has operated.
BUSINESS
Jay Hancock | February 12, 2012
Among the many advantages Constellation Energy's headquarters gives Baltimore — Fortune 500 cachet, hundreds of well-paid workers, millions in charity — is this: The building pays sticker price on property taxes — $745,000 a year. You probably won't be able to say that about its replacement, which Exelon Corp. and developer John Paterakis propose to build at Harbor Point. Exelon is close to a deal to buy Constellation, which owns Baltimore Gas and Electric Co. Sensitive about seizing a Maryland corporate heirloom, Chicago-based Exelon promised to put the green energy and retail marketing divisions of the combined company in a new Baltimore building.
NEWS
By Luke Broadwater, The Baltimore Sun | November 10, 2011
The City Council's finance committee chairman threatened Thursday to impose a moratorium on tax breaks for developers until City Hall implements more transparency in the process and funds more projects outside of downtown. Carl Stokes, who chairs the Taxation, Finance and Economic Development Committee, said he wants to see City Hall implement nearly a dozen recommendations from a task force composed of some of Baltimore's best-known business and political leaders before he would allow any more PILOT (payment in lieu of taxes)
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | October 19, 2011
A historic former school in East Baltimore that has been vacant for years could be transformed into college classrooms or offices under proposals heard by city officials Wednesday. Two groups have submitted plans to the Baltimore Development Corp. to buy and renovate the four-story Gompers Building at 1701 E. North Ave. The 1905 structure housed Eastern High School until 1950. Afterward it served as a vocational school and then as affordable apartments through a U.S. Department of Housing and Urban Development program.
NEWS
By Steve Kilar, The Baltimore Sun | October 18, 2011
A city-owned inn in Midtown-Belvedere has been sold to a private developer with plans to convert the property into a boutique hotel, according to the city's economic development entity. The corporate buyer agreed to pay $725,000 for the Inn at Government House, a three-building complex that was converted under then-Mayor William Donald Schaefer, said Darrell Doan, the Baltimore Development Corp.'s director of economic development for the eastern half of the city. Mount Vernon Mansion LLC, the purchasing company, is led by Eddie Brown of the Baltimore investment firm Brown Capital Management and Martin Azola of real estate developer Azola & Associates.
NEWS
By Steve Kilar, The Baltimore Sun | August 20, 2011
A neighborhood meeting in Northwest Baltimore to discuss a new supermarket opened with soft organ music and bowed heads, demonstrating the importance of such a facility to a community that has done without one for more than a decade. "We pray this night for this area, called Howard Park, in particular," the Rev. Donald Sterling said Friday at the pulpit in New All Saints Catholic Church, off Liberty Heights Avenue. On either side of the altar were displayed plans for a 68,000-square-foot state-of-the-art grocery store with more than 200 parking spaces.