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NEWS
By FROM STAFF REPORTS | October 3, 1995
Gov. Parris N. Glendening announced yesterday that nine housing projects across Maryland have been awarded more than $5 million in state loans and federal tax credits.The projects, selected through a new competitive process, will serve elderly, disabled and low-income residents in Baltimore City and Harford, Howard, Prince George's, Allegany, Charles and Wicomico counties.In Baltimore, St. Elizabeth's Senior Housing will receive $548,870 in state loans and federal tax credits to renovate a former convent for elderly housing.
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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.
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NEWS
February 2, 1992
The state Board of Public Works Wednesday approved $1.25 million in state loans to Sykesville for the Raincliffe Business Center.The town applied for the loans more than a year ago to lend to Security Enterprises Inc. of Ellicott City, Howard County, for construction of the $3.5 million, 32-acre South Carroll industrial and commercial center.The state loans consist of $500,000 from the Maryland Industrial Land Act and $750,000 from the Maryland Industrial and Commercial Redevelopment Fund.
BUSINESS
By Liz F. Kay, The Baltimore Sun | June 30, 2010
Three Maryland mortgage companies must refund about $246,000 in prepayment penalties charged to customers statewide in violation of a 2008 law, according to state financial regulators. Litton Loan Servicing and Saxon Mortgage Services have returned $71,000 collected from 160 Maryland consumers, and Bayview Loan Servicing refunded $104,000 to 40 Marylanders, according to the state Department of Labor, Licensing and Regulation. The violations were discovered during compliance examinations conducted by the Office of the Commissioner of Financial Regulation.
SPORTS
By Jon Morgan and Jon Morgan,SUN STAFF | June 15, 1999
The president of Maryland's major thoroughbred racetracks says his multi-million-dollar plan to rejuvenate racing can be accomplished with a mix of track money, state loans and a diversion from the winnings paid to bettors."
NEWS
June 28, 1992
Bank gives to collegeWESTMINSTER -- Carroll County Bank & Trust Co. has become the seventh major contributor to the Carroll Community College Founders' Endowment Fund with a pledge of $2,500.The Founders' Fund will be used to assist students, build faculty and program development, sponsor cultural activities, provide state-of-the-art equipment and expand other college-related general programs.Those making pledges through June 30 to the fund will have it matched in the Private Donation Incentive Program.
NEWS
January 14, 1998
Taneytown officials hope to advertise in March for bids to improve and expand the city's sewage treatment plant.Dennis Michael of CDM Engineering has submitted plans and specifications for the $6.1 million project to the state Department of the Environment.A county government review is scheduled this week.Expansion of the plant's capacity from 700,000 gallons to 1.1 million gallons a day will be financed through a $1.6 million state grant and $4.5 million in state loans.If the city obtains additional grants, the state loan would be reduced.
NEWS
By Ivan Penn and Ivan Penn,SUN STAFF | September 22, 1995
An Annapolis Junction manufacturer that sought Howard County's backing for a $900,000 state loan will receive the money to expand its business without the county's having to secure it.In an unusual move, Marble Source Unlimited, a manufacturer of natural stone products, will be allowed to borrow the money -- without county backing -- from the Maryland Economic Development Corporation (MEDCO).That organization, established by the General Assembly 10 years ago to help businesses get state loans, will secure the loan itself.
NEWS
By Ellie Baublitz and Ellie Baublitz,Contributing writer | March 17, 1991
The Sykesville Town Council gave the go-ahead Monday to Raincliffe Center by introducing three ordinances and two resolutions that would pave the way for an Ellicott City developer to receive a state-Carroll County loan package.The measures for the 32-acre industrial park passed unanimously, with Council President Charles B. Mullins abstaining because of a potential conflict of interest."I'm interested in possibly purchasing some of the Raincliffe property," he said. "I would have voted for it, but I thought it might look like I was trying to get something out of it."
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | February 28, 1996
Hoping to entice middle-income families to buy homes and help spur sluggish sales in Maryland, the state has expanded a mortgage program that had been reserved for low-income borrowers.Under higher income and purchase price limits that take effect today, a single person or two-member family can earn up to $56,000 annually and buy a new house in the Baltimore area for up to $157,825 with a state loan -- and no down payment. Previously owned homes priced up to $140,634 also qualify for the state loans.
BUSINESS
By EILEEN AMBROSE and EILEEN AMBROSE,eileen.ambrose@baltsun.com | August 26, 2008
The newly updated Higher Education Act included two words that will please families dealing with hefty education debt: loan forgiveness. A recent column on the government's move to wipe out federal loans for those who work in lower-paying public service jobs generated more e-mail than usual. Most of it came from parents wanting to find out how their children could qualify. That includes the father of a city prosecutor in Arizona, who wrote: "I am helping my son pay his law school loans.
BUSINESS
By Tricia Bishop and Tricia Bishop,Sun reporter | March 11, 2008
State taxpayers provided $300,000 to help keep the creators of high-definition radio in Maryland, economic officials said yesterday. In return for the cash, iBiquity Digital Corp. promised to double its number of employees to 120 by the end of 2009 and keep the positions active through 2013. Company executives are also required to use the money for capital improvements on their new, roomier Columbia headquarters, which they moved into last spring. At 18,000 square feet, the location is double the size of iBiquity's former space in Columbia.
NEWS
By Ted Shelsby | March 11, 2007
Forgive the members of the farming industry, the largest in Maryland by some measures, if they do not feel as though they have gotten the same treatment over the years as other businesses in the state. Those in the industry likely do not know what it is like to be, say, General Motors, which received $10 million in public funds to help pay for its Allison Transmission plant in White Marsh. Or, Marriott International, which landed a $9 million grant to help pay for sprucing up its Bethesda headquarters.
NEWS
By Timothy B. Wheeler and Timothy B. Wheeler,SUN REPORTER | October 19, 2006
A state housing official told legislators yesterday that the Ehrlich administration would review a home-buying assistance program it unveiled this year that critics contend encourages suburban sprawl. Meanwhile, other administration officials denied that fees Marylanders pay to upgrade sewage treatment plants around the Chesapeake Bay are enabling undesirable growth and development. Speaking at an Annapolis legislative briefing, Tonna Phelps, director of single-family housing programs for the state Department of Housing and Community Development, said officials would take another look at their "Live Near Your Work Plus" effort.
NEWS
By Mary Gail Hare and Mary Gail Hare,SUN STAFF | December 16, 2004
The state Board of Public Works approved yesterday a $4 million low-interest loan that will pay for infrastructure and initial renovations at a long-planned business and technology park in South Carroll. The investment, coupled with plans for an $8.6 million highway intersection leading into the campus, known as the Warfield Project, should spur interest and further investment in the project, which promises economic development for Carroll County and as many as 1,000 jobs, officials said.
NEWS
By Mary Gail Hare and Mary Gail Hare,SUN STAFF | December 16, 2004
The state Board of Public Works approved yesterday a $4 million low-interest loan that will pay for infrastructure and initial renovations at a long-planned business and technology park in South Carroll. The investment, coupled with plans for an $8.6 million highway intersection leading into the campus, known as the Warfield Project, should spur interest and further investment in the project, which promises economic development for Carroll County and as many as 1,000 jobs, officials said.
NEWS
By Marilyn McCraven and Marilyn McCraven,SUN STAFF | March 16, 1996
When they bought their $82,000 home near Hollins Market three years ago, Tamara and Nathan Schoffer thought they were getting in on the ground floor of an urban neighborhood renaissance.Late last month, as they prepared to pack up their belongings into a U-Haul truck bound for New Jersey, Ms. Schoffer lamented that their home purchased through a state-backed program "has been such a disaster."The Schoffers said fleeing the neighborhood was their only recourse after house prices plummeted when the state foreclosed in July on 80 townhouses and apartments owned by New York developer Howard Loewentheil, a principal of the Hollins Townhouses and Market Mews limited partnerships.
NEWS
By William F. Zorzi Jr. and William F. Zorzi Jr.,SUN STAFF Sun staff writer C. Fraser Smith contributed to this article | November 29, 1997
Dozens of business and community leaders were invited to a reception last month at the Baltimore offices of the private company that manages some Maryland small-business loan programs -- an event billed as a tribute to state Del. Nathaniel T. Oaks.But after guests arrived, Oaks' campaign manager, Julius Henson, made a speech urging them to contribute to the West Baltimore Democrat's political campaign.Henson then circulated around the room, collecting checks totaling more than $1,200 from eight people or groups, including association representing minority contractors, some of whom have sought the state loans managed by the company, some of those present said.
NEWS
By Ted Shelsby and Ted Shelsby,SUN STAFF | October 3, 2004
The groundbreaking for the first building in the redevelopment of Bainbridge Naval Training Center could be held early next year. Paul Gilbert, Cecil County economic development director, will present a proposal to county commissioners Tuesday to allow the county to borrow from a state low-interest loan program to construct a 30,000- to 40,000-square-foot structure at the former Navy boot camp. "My goal is for the grading of the property to begin the first of next year," said Harland R. Graef, chairman of the Bainbridge Development Corp.
NEWS
By Tanika White and Michael Dresser and Tanika White and Michael Dresser,SUN STAFF | February 21, 2004
Baltimore school officials delivered to the governor yesterday a plan critical to getting a $42 million loan from the state that would help keep the system out of bankruptcy. Former state Sen. Robert R. Neall -- who is advising the system on its financial matters -- hand-delivered the plan in a black binder to the governor's budget secretary, James C. "Chip" DiPaula Jr., just after 4:15 p.m. yesterday. "As promised, on time," Neall said. Neall would not divulge the contents of the report but said it fully documents the financial condition of the school system and provides the justification for the state loan.
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