Economic Development Update

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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.

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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.
• Marks Daily Grind is now Marks Cafe.
• Maryland Treasures is open next to Kauffmans
  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
  Anns space
• Elizabeth Anns is moving to a new space on
  Mechanic Street near Carmichaels

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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

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VA Avenue Code Compliance

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

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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.

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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

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Reminder

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