Tag Archives: financial

Five party MOU is a rickety contrivance to shake loose a state million $s to keep DH&CC afloat

“The CITY has formally requested assistance from MEDCO to support this local initiative by issuing both the TIF and Parking Revenue Bonds for the CITY and COUNTY, to hold ownership and oversee the operations of the CONFERENCE CENTER, ON-SITE PARKING … Continue reading

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Rocky Gap funder MEDCO to attempt funding of downtown hotel as Stadium Authority bails

Maryland Stadium Authority has bailed on the City of Frederick downtown hotel project. Its role as the major state financier is to be taken over by Maryland Economic Development Corporation (MEDCO.) City officials have said again and again that the … Continue reading

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Where we stand in the battle against the hotel boondoggle

Supporters of the downtown hotel boondoggle were joyous over having managed to pull off a last minute victory in gaining state funding for the downtown hotel in Frederick. Opponents played the game in Annapolis fair and square. We adhered to … Continue reading

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Minority makes mockery of established parliamentary procedures (email to delegates, senators)

Dear Delegate/Senator: Reported in the Frederick News-Post this morning is an effort by a minority of Frederick County delegates to fund a Frederick conference center boondoggle through parliamentary trickery. Bills to enable the Maryland Stadium Authority to fund a Downtown Conference … Continue reading

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MEDCO’s conference center hotels have a record of chronic losses – Rocky Gap & Chesapeake

They were both promoted with the promise of bringing new business, new jobs, and new revenues with boosters claiming they’d be ‘transformational’ of the local economy, a catalyst for the recovery of a depressed area… 

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SB1038: LETTER TO THE MAYOR

Mr Mayor: you said during your address in Annapolis to the Senate Finance Committee March 22 on SB1038: “We know there are concerns and we are trying to address those concerns as they come to us.” One concern you have … Continue reading

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Appropriators say No to state $s for boondoggle hotel (Comments in FNP)

petersamuel Mar 26, 2016 9:41am This $200k-from-nowhere caps a week of fiascos for the outrageous boondoggle of a downtown conference hotel project. $31 million of public money the boosters of this hotel want to spend for an ‘upscale’ conference facility … Continue reading

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MSA-dictated bill SB1038 at odds with project as presented to citizens of Frederick (Senate testimony)

Senators: the City of Frederick’s Downtown Hotel and Conference Center project should not be referred to the Maryland Stadium Authority (MSA) for financing at this time. As presently constituted the project is a bloated mess, undeserving of $20 million of … Continue reading

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“Not on the hook” for losses? – boosters’ bond bills say we are (LTE FNP)

Sir: City officials and others promoting the downtown hotel complex have said time and again that taxpayers won’t be ‘on the hook’ for losses. Surely it is news that the new bond bill (HB1474/SB1038) referring Frederick’s Downtown

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Seven years old, changing like a chameleon, the one constant being 18 months from breaking ground… (Speaking notes, House Appropriations Committee, Annapolis)

Delegates: We have been told again and again by City officials that taxpayers are not on the hook for this project, that taxpayers won’t be liable for any losses and that they are not at risk. This was somehow going to … Continue reading

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