5PM UPDATE– Court rules against State Center.
PLAINTIFF’S STATEMENT RE:
JUDGE HANDY’S STATE CENTER RULING
JULY 13, 2011
“As a result of the Court’s Order and through the judicial process, these taxpayer plaintiffs now have the opportunity to further uncover how and under what circumstances one of the largest State construction projects ever landed in the hands of these developers without competitive bidding.”
Original article below:
A few weeks ago we learned that the Cordish Company is having a hard time attracting office tenants to its Inner Harbor properties. They want some financial relief from the government (tax payers). At what point do we say enough is enough? If developments at the Inner Harbor are not sustainable then we have a bigger problem here. In the real world if your business model is not sustainable then you go out of business. There are no bailouts. Taxpayer subsidies are bailouts.
So on one hand we have a major developer unable to fill prime office space at one of the most popular urban tourists areas in the USA and on the other hand we have the people at State Center telling us we need more office space in Baltimore and that this office space should be located next to a very undesirable housing project (McCulloh Homes). We have a high office space vacancy rate in and around downtown. The creation of more office space is not going to solve that problem. This is not a question of who to give subsidies to (Cordish or State Center), it is a question of when will our local government figure out that it can no longer interfere in development and finally allow developers to prove if their ideas are really sustainable in a free market.
You can read a pro-State Center press release here and the the Maryland Public Policy Institute’s thoughts here and here. It is important to note that Pastor Sheridan Todd Yeary who is prominently mentioned in the State Center press release, is refered to as the “mayor’s pastor” in this article and was present for her recent Interdenominational Ministerial Alliance endorsement news conference.