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Economic Development Update

Economic Development Update . March 2009. Retail Development. Cumberland Crossing Property owners are actively seeking financial partners and replacement anchors to compliment a leading grocer and other small to mid-size retailers.

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Economic Development Update

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  1. Economic Development Update March 2009

  2. Retail Development • Cumberland Crossing • Property owners are actively seeking financial partners and replacement anchors to compliment a leading grocer and other small to mid-size retailers. • ED offering support in marketing efforts to harvest national relationships.

  3. Retail Development • Willowbrook Marketplace • Remaining property owners are willing to reassemble the parcels to proceed with retail development • Continuing to keep updated information in front of other potential developers.

  4. Downtown • Business Resource Center (BRC) space is being “gifted” back to SCORE and SBDC to expand and increase services to the community. • ED will relocate and share office space with DBED at 138 Baltimore Street. • Mark’s Daily Grind is now Mark’s Cafe. • Maryland Treasures is open next to Kauffman’s Music . • Calico Corners is welcoming new clients through local representatives and is beautifully featured in the store windows of Peskins.

  5. Downtown Movement • BC/BS expansion and relocation into the McMullen Building • Chessie Credit Union expanding into Elizabeth Ann’s space • Elizabeth Ann’s is moving to a new space on Mechanic Street near Carmichael’s

  6. Potential Projects • A special needs educational service • A new restaurant concept similar to Boston Market set-up • A recycling facility • A discount retailer • Eighteen business licenses issued since October 2008 to the present

  7. Virginia Avenue Revitalization • HRDC and Regional Eye Center construction underway. • Rite Aid construction to begin late June/early July. • Maple Street count to DHCD • 85 residential • 22 apartment • 105 commercial • 3 exempt commercial

  8. VA Avenue Code Compliance • 10-year forgivable loan funded by the State of Maryland Community Legacy Program • Three residential @ $10,000 • Two rental @ $8,500 • One commercial @ $25,000 • Applications reviewed and candidates selected • Recommendations being considered by the Historical Trust Review • Construction must be completed by the end of June

  9. Arts & Entertainment District • Arts Flash • 2009 Mountain Maryland Artists Studio Tour being planned • New Mountain Maryland Plein Air Event • Scheduled to be held May 26 through May 30 • Exhibition and art competition that will showcase the talents of 30 “plein air” painters from around the country.

  10. Meetings, meetings and more meetings! • Developing strong external relationships is key to the success of ED – we all need to work together! • Actively partner on the following committees: • County Tourism Selection • Canal Place Heritage Area Grants • CACIF Retail Development • Mountain Maryland Trails • Chamber of Commerce Economic Development • TGCC – Partners in Progress • Wellness Coalition

  11. Reminder • Economic Development projects are extremely confidential in nature and success in many instances is largely based on trust. • Thank you for your cooperation.

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