Wednesday, November 21, 2012
BaltimoreMICRO will offer loans to city businesses with less than $1 million annual revenue.
A new micro loan program for small Baltimore businesses was announced by the city on Wednesday. The new program, known as BaltimoreMICRO, will offer loans to local businesses between $5,000 and $30,000 to retail, service providers and contractors with less than $1 million in annual revenue and with a personal credit score of at least 650, according to a news release. "Baltimore’s neighborhoods that have experienced growth and revival in the past few years are known not only for their unique homes and character, but also for their small businesses, including stores and restaurants," Rawlings-Blake said in the release. "They bring residents together and create a buzz that attracts people from throughout the region. We want that to happen in …
Monday, September 24, 2012
A proposal to terminate the lease and sell the historic theater will be heard on Wednesday morning.
(UPDATE) 8:58 p.m.—The city will officially submit a proposal to sell the Senator Theatre to its current operators on Wednesday. Under the proposed arrangement, the city will hold the $500,000 Purchase Money Mortgage on the property. The agreement would terminate the current lease of the building—operated by James "Buzz" Cusack and his daughter Kathleen Lyon as Senator Theatre, LLC—and sell the building to its tenants. The city’s director of finance has recommended the approval of the sale, according to the Board of Estimates agenda. The agenda also states that the project’s financing needed to be revised because construction bids for the renovations were higher than anticipated. "The new financing strategy centers on a sale of the …
Thursday, August 23, 2012
James "Buzz" Cusack and his daughter and business partner Kathleen Cusack are currently leasing the historic building.
There’s a new plot twist in the melodrama of the historic Senator Theatre. The theater will be sold to its current operators, James "Buzz" Cusack and his daughter and business partner Kathleen Cusack, according to Joanne Logan, a spokeswoman for the Baltimore Development Corp. The Baltimore Business Journal first reported the quasi-governmental agency Baltimore Development Corp. is in the process of putting the deal together to be presented to the Board of Estimates. The development corporation contracts with the city to provide "economic development services," according to its website. Logan confirmed to Patch via email that the corporation plans to take the transaction to the Board of Estimates by the end of September. The city bought …
Friday, February 24, 2012
Mayor Stephanie Rawlings-Blake's office announced Friday that M.J. "Jay" Brodie will retire.
M.J. “Jay” Brodie, the president of the Baltimore Development Corporation, will retire after serving 16 years in the position. Brodie’s decision was announced in a news release from Mayor Stephanie Rawlings-Blake’s office on Thursday morning. The Baltimore Development Corporation is a quasi-governmental economic development agency. “Jay has been a true champion for Baltimore’s businesses—both large and small—and has left a permanent, positive legacy as a major contributor to our city’s ongoing renaissance. From the shores of our harbor and downtown, to our neighborhood main streets, there are countless examples of contributions that Jay has made to improve Baltimore,” Rawlings-Blake said in the release. The administration credited Brodie …
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