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By Jamie Smith Hopkins, The Baltimore Sun | December 19, 2011
Annapolis Towne Centre at Parole has closed on a $135 million refinancing of its construction loan. CBRE Capital Markets, which arranged the deal, said Monday that the retail project got a seven-year loan with HSBC Bank. Annapolis Towne Centre's retail, developed in 2008 by Owings Mills-based Greenberg Gibbons, is one piece of a 2.2-million-square-foot complex with offices, apartments and condos as well as shops and a grocery store. The project is 95 percent leased, CBRE Capital Markets said.
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By John Fritze and The Baltimore Sun | September 4, 2014
Noting that student loan debt in the U.S. has ballooned to roughly $1 trillion, Sens. Barbara A. Mikulski and Ben Cardin spoke with students at Bowie State University on Thursday to draw attention to a proposal Democrats will push next week to allow borrowers to refinance their student loans. "In this country you can refinance a yacht but you can't refinance your student loan," Mikulski said. "We want students to have a fair shot at lowering their debt interest rates. " The bill, which would allow people to refinance federal and private loans issued before 2010 at a rate below 4 percent, is not likely to gain much traction in this Congress.
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BUSINESS
By Andrea K. Walker, The Baltimore Sun | October 21, 2010
The developer of a Wegmans Food Markets in Abingdon has received a $7 million federal stimulus bond loan to be used towards construction. The Harford County Council voted to approve the loan for Box Hill FC, LLC earlier this week. The 144,000-square-foot Wegmans will be the anchor of a retail and office center planned for the intersection of Box Hill Corporate Drive and Woodsdale Road near I-95 in Harford County. It is slated to open next year, with construction to begin this month.
NEWS
By Anwer Hasan | July 29, 2014
Student debt has grown to over $1 trillion in the United States and is continuing to climb. In fact, seven out of 10 undergraduates graduated with some form of student debt in 2012. Such enormous debt is likely to trigger another financial crisis as young adults and recent graduates struggle to pay back their loans. The federal, state and local governments have taken a number of steps to provide aid in the form of scholarships, grants, loans and repayment assistance programs. In Maryland, for example, the state's Janet L. Hoffman Loan Assistance Repayment Program provides loan repayment assistance for graduates working in high needs areas in targeted fields such as medicine, education and law. In Fiscal Year 2013, 193 awards were made through that program; loan repayments totaled more than $1.2 million, with an average award of roughly $6,400 per recipient.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | November 9, 2010
When Roy Miller couldn't afford to pay cash for furniture for his new Belair-Edison home last year, he didn't have to resort to a credit card or some other pricey form of borrowing. Instead, the 50-year-old housing counselor took advantage of a pilot lending program that provided a low-interest $1,000 loan and even paid him for salting away a little money in a separate account. "It's a good program. It's helping people to borrow and save," says Miller, who has repaid his loan. In fact, "Borrow and Save" is the name of the program.
FEATURES
By Dave Rosenthal | May 10, 2012
Harry Potter novels will be available through the Kindle Owners' Lending Library, Amazon said today, in announcing a deal with J.K. Rowling's Pottermor e website. announced today. Of course, there's a catch. To get access to the library, you'll need to spend $79 for an Amazon program that also offers perks such as free two-day shipping. “We're absolutely delighted to have reached this agreement with Pottermore. This is the kind of significant investment in the Kindle ecosystem that we'll continue to make on behalf of Kindle owners,” said Jeff Bezos, founder and CEO of Amazon.com.
NEWS
By Mary Gail Hare, The Baltimore Sun | August 16, 2012
The Kingsville Volunteer Fire Company will use a $3.6 million loan from theU.S. Department of AgricultureRural Development program to expand and renovate its facility in northern Baltimore County. Senators Barbara A. Mikulski and Ben Cardin announced the funding Thursday. The company, which serves a predominantly rural area, will use the money to update outdated mechanical and electrical systems, replace the deteriorating roof and increase living and classroom facilities for its volunteers.
NEWS
By Luke Broadwater and Julie Scharper, The Baltimore Sun | December 14, 2011
Two months before the start of the Baltimore Grand Prix, the race's organizers, desperate for cash, entered into a $1.1 million loan they believed was necessary to save the event. But the two-month loan - which allowed the lender to collect more than $500,000 in interest and other charges - ended up draining funds needed to pay city taxes, the former CEO of Baltimore Racing Development says. Now, with Baltimore Racing Development facing large debts, some are complaining about the loan's terms and asking why the lender was paid while taxes - including more than $450,000 in city amusement and admissions taxes - and other debts were owed.
NEWS
By Alison Knezevich, The Baltimore Sun | October 4, 2013
Baltimore County has repaid more than $13 million it borrowed last year from its employees' pension fund, leading the county police union to drop a lawsuit over the loan. The county recently paid about $13.1 million, plus more than $500,000 in interest, for the loan, which it took out in 2012 to upgrade a transfer station and build a single-stream recycling system in Cockeysville. Union leaders said this week they were pleased the money was paid back and have filed paperwork to drop their lawsuit against the county retirement system's board of trustees.
NEWS
By Michael Dresser, The Baltimore Sun | July 26, 2013
An O'Malley administration plan to lend $240,000 to a Towson sports bar to finance its expansion is raising questions about the role of government in promoting economic development. This week, the Board of Public Works opted to delay deciding whether to approve the loan to the Greene Turtle in Towson, whose franchise owners want to double its size to meet an anticipated increase in competition from nearby projects. State and local development officials called the loan necessary to keep downtown Towson vibrant, especially at a time when private financing is difficult to secure.
BUSINESS
By Natalie Sherman, The Baltimore Sun | July 15, 2014
Developer Patrick Turner is negotiating with a new group over his role in an ambitious mixed use development project he had planned for waterfront property in Westport. Citigroup Global Markets Realty Corp., which made a $30 million loan to Turner in 2007 to help finance the development, transferred ownership of the note July 2 to Westport Property Investments, LLC. Earlier this year, the bank moved to foreclose on the properties securing the loan, on which Turner owes more than $32 million.
BUSINESS
By Natalie Sherman, The Baltimore Sun | July 1, 2014
The Maryland Department of Housing and Community Development said Tuesday it will extend for the long-term a program that offers reduced mortgage rates for veterans and active-duty military, while scaling back the initial incentive. The new "Maryland Homefront" loans will carry interest rates a quarter of a percent lower than those offered under Maryland Mortgage Program, or about 3.75 percent. That's half the discount of the first Homefront loans announced just before July 4 two years ago. At the time, the state had reserved $50 million for the incentive.
SPORTS
By Don Markus and The Baltimore Sun | June 29, 2014
BETHESDA -- As David Feherty walked up the fourth fairway Sunday following third-round leader Patrick Reed to a tee shot that landed in the right rough, the CBS golf analyst said to a reporter doing the same: “Congressional [Country Club] finally got the course like they wanted it for the U.S. Open.” Three years after Rory McIlroy's performance caused shock waves throughout both the golf world and the club itself, the venerable Blue Course finally took its revenge in the Quicken Loans National.
SPORTS
By Don Markus, The Baltimore Sun | June 27, 2014
- Oliver Goss came to Congressional Country Club earlier this week looking to play in his second PGA Tour event at the Quicken Loans National. As things have transpired for the 20-year-old Australian, the hardest part was getting in the clubhouse door. "I don't have a PGA Tour credential because I'm not a member and they said, 'No, we can't let you in,'" Goss said Friday. "So I had to walk all the way around and go back in [another entrance] It's no big deal and I have a credential now. " Goss has more than that.
SPORTS
By Don Markus and The Baltimore Sun | June 27, 2014
BETHESDA -  Before Tiger Woods committed last week to playing in the Quicken Loans National, many figured that Congressional Country Club would look and feel very much like it did last year, when the absence of the world's former No. 1 player offered plenty of elbow room. It could be that way again this weekend. The crowds and major-championship buzz that followed the game's biggest draw through the first two rounds likely will disappear now that Woods, looking older than 38 and trying to find his game after being sidelined more than three months after back surgery, has missed the cut. Coming into Friday's second round at 3-over-par, mostly the result of poor first-round putting, Woods struggled in all facets of his game, shooting a 4-over 75. His two-day total of 7-over-par 149 was 13 shots off the lead and four strokes off the cut line.
SPORTS
By Don Markus, The Baltimore Sun | June 25, 2014
Tiger Woods has long been known for wearing red and black on Sunday, his wardrobe of choice for nearly all of his 79 victories on the PGA Tour. When the 38-year-old tees off Thursday for the first time in a tour event in more than three months, Woods and the rest of the field will be thinking about how much rust he will be wearing. The atmosphere for his practice round Wednesday at Congressional Country Club during the pro-am for the Quicken Loans National was reminiscent of when he played here in the 1997 U.S. Open a couple of months after winning the Masters by a dozen shots.
NEWS
Justin Fenton, The Baltimore Sun | March 31, 2011
A determination of whether there was criminal conduct in the case of a gun that was registered to a Baltimore police commander but stolen from a Southeast Baltimore business may rest on whether the gun was "loaned" or "transferred. " Maryland's highest court ruled in 2006 that it is legal for a regulated handgun to be "loaned" between two people who are permitted to own and obtain a handgun. Although the state regulates the transfer of firearms, the Court of Appeals said that "transfer" only refers to a permanent exchange of title or possession and "does not include gratuitous temporary exchanges or loans.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | April 4, 2011
Sports apparel company Under Armour has taken out $325 million in financing, part of which will be used to help buy the Tide Point campus it will use as its headquarters campus, according to regulatory filings. A portion of the loan — $25 million — will be used to pay for the waterfront Tide Point complex in Locust Point, according to a filing with the Securities and Exchange Commission. The remaining $300 million of financing will be in the form of revolving credit, with the option to extend the credit limit to $350 million.
SPORTS
By Don Markus and The Baltimore Sun | June 24, 2014
BETHESDA - Like the superstar athletes who befriended and mentored him early in his career as he watched them grow old, Tiger Woods keeps staring at his own golfing mortality. Coming off a three-month layoff following back surgery, Woods returns to the PGA Tour this week for the Quicken Loans National at Congressional Country Club with a bit of a different game than the one he has played for the past 18 years as a pro. “Just like M.J., I've got the fadeaway,” Woods said, referring to one of his longtime confidants, Michael Jordan.
BUSINESS
By Natalie Sherman, The Baltimore Sun | June 2, 2014
Losses on loans made to investors rehabilitating city homes helped drive to failure a small savings bank founded by immigrants in East Baltimore more than 100 years ago, said the CEO of the bank that acquired much of its portfolio. Federal banking regulators closed Slavie Federal Savings Bank on Friday after losses on bad loans depleted its capital from $13.4 million in mid-2012 to $2.93 million at the end of March. The Bel Air-based thrift's $111.1 million of deposits and most of its loans were sold immediately to Bay Bank, FSB. The Office of the Comptroller of the Currency issued Slavie a cease-and-desist order in January for failing to address "unsafe or unsound banking practices," its most severe sanction, laying the groundwork for last week's closure.
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