Baltimore Development Corporation
Encyclopedia
The Baltimore Development Corporation (BDC) is a nonprofit corporation on contract to the City of Baltimore, Maryland, to act as its economic development
representative by providing development assistance to new and expanding companies inside Baltimore.
It was formed in 1991 by a merger of three Baltimore non-profit organization
s that had similar economic goals but different areas of service. The oldest of these had been in operation since 1959.
The BDC oversees development of major downtown projects, as well as development of Baltimore city-owned business and industrial park
s.
The BDC was recently the subject of Maryland Court ruling declaring that its Board of Directors meetings and all internal documents were subject to Freedom of Information Act
requests under the Maryland state sunshine law
.
The corporation and the City are under public criticism for the planning, financing and construction of the Hilton Baltimore Convention Center Hotel. The $301 million, 750-room hotel near the city baseball and football stadiums is an almost entirely publicly-funded project (through city bonds), expected to open in August 2008. Hilton Hotels Corporation
is expected to contribute around $7.1 million to the project.
Economic development
Economic development generally refers to the sustained, concerted actions of policymakers and communities that promote the standard of living and economic health of a specific area...
representative by providing development assistance to new and expanding companies inside Baltimore.
It was formed in 1991 by a merger of three Baltimore non-profit organization
Non-profit organization
Nonprofit organization is neither a legal nor technical definition but generally refers to an organization that uses surplus revenues to achieve its goals, rather than distributing them as profit or dividends...
s that had similar economic goals but different areas of service. The oldest of these had been in operation since 1959.
The BDC oversees development of major downtown projects, as well as development of Baltimore city-owned business and industrial park
Industrial park
An industrial park is an area zoned and planned for the purpose of industrial development...
s.
The BDC was recently the subject of Maryland Court ruling declaring that its Board of Directors meetings and all internal documents were subject to Freedom of Information Act
Freedom of information legislation
Freedom of information legislation comprises laws that guarantee access to data held by the state. They establish a "right-to-know" legal process by which requests may be made for government-held information, to be received freely or at minimal cost, barring standard exceptions...
requests under the Maryland state sunshine law
Freedom of information legislation
Freedom of information legislation comprises laws that guarantee access to data held by the state. They establish a "right-to-know" legal process by which requests may be made for government-held information, to be received freely or at minimal cost, barring standard exceptions...
.
The corporation and the City are under public criticism for the planning, financing and construction of the Hilton Baltimore Convention Center Hotel. The $301 million, 750-room hotel near the city baseball and football stadiums is an almost entirely publicly-funded project (through city bonds), expected to open in August 2008. Hilton Hotels Corporation
Hilton Hotels Corporation
Hilton Worldwide is a global hospitality company. It is owned by the Blackstone Group, a private equity firm. As of July 2011 Hilton brands encompass 3,750 hotels with over 600,000 rooms in 84 countries...
is expected to contribute around $7.1 million to the project.
See also
- Baltimore Area Convention & Visitors AssociationBaltimore Area Convention & Visitors AssociationVisit Baltimore, formerly the Baltimore Area Convention & Visitors Association , is a quasi-public organization started in 1980 by then-Baltimore Mayor William Donald Schaefer...
- Baltimore Convention Center Hotel Project
- Baltimore Convention CenterBaltimore Convention CenterThe Baltimore Convention Center is a convention and exhibition hall located in downtown Baltimore, Maryland. The Center is a municiple building owned and operated by the City of Baltimore...
- Baltimore Visitors CenterBaltimore Visitors CenterThe new Baltimore Visitors Center opened on May 7, 2004, to replace an old antiquated visitors center that was operated in a modified construction trailer. It is located in downtown Baltimore, Maryland, USA, on the Inner Harbor....
- 1st Mariner Arena1st Mariner Arena1st Mariner Arena is an arena located in Baltimore, Maryland. In 2003, it was renamed by 1st Mariner Bank, which purchased naming rights to the arena for 10 years. It was reported that 1st Mariner Bank will need to pay the city $75,000 for the next ten years to keep the naming rights to the complex...
- Inner HarborInner HarborThe Inner Harbor is a historic seaport, tourist attraction, and iconic landmark of the City of Baltimore, Maryland, United States. Described by the Urban Land Institute in 2009 as “the model for post-industrial waterfront redevelopment around the World.” The Inner Harbor is actually the end of the...