Nov
17
Payback Time for Baltimore
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Paul McIndoe asked:
Only ten years ago visitors to Baltimore Harbor were greeted by the grim sight of industrial desolation and run-down docks. But, following a decade of intensive regeneration not only is the area now aesthetically pleasing and thriving, more importantly for the city it is generating a great deal of business and tourism revenue.
That’s great news for the Baltimore City Development Corporation (BDC) as they expect businesses in the Inner and East Harbor areas to soon follow the lead of Marriott which became the first enterprise to start paying profit-sharing revenues in early January.
The Inner Harbor, which borders downtown Baltimore, and the Ravens and Orioles Stadia, is now a huge draw for sports fans, conference attendees and business travelers due to the amount of quality hotels and facilities in the area. Much of that phenomenal success is down to the vision of the BDC who agreed a series of innovative tax breaks to businesses ten years ago, designed to stimulate major developments and investment around the Harbour. By redeveloping the area the city hoped to build on the number of tourists and business travellers they could attract from nearby Washington D.C., only an hour’s drive away.
Under the agreements businesses were given favourable benefits, such as minimal annual property tax for an agreed number of years in return for a percentage of future profits. Under these agreements certain thresholds must be reached before the profit share pay-outs kick in. However, only six years after its construction the Marriott Waterfront became the first hotel in Baltimore to pay out to the City’s Development Corp. under the profit-sharing agreements. The first payment, for the fiscal year of 2006, was paid in early January 2008 and amounted to a healthy $820,000.
M.J. Brodie, president of the BDC, was pleased to receive the payment so soon. He said: “They’re doing much better than original estimates, which is great news for the city. The deal is now starting to produce fiscal returns, besides the returns already provided in jobs and all sorts of taxes.”
In addition to the hotels in the harbour area constructed using Development Corporation cash, the hugely popular Power Plant, which incorporates the nation’s first ESPN Zone and a Hard Rock Cafe amongst other attractions, is also a beneficiary. Residential developments such as Spinnaker Bay luxury apartments and commercial developments, including the under-construction headquarters of Legg Mason, has resulted in the establishment of an upscale residential and business area in the once run-down harbour environs.
Indeed, the Power Plant development looks set to be the next to start paying out profit sharing revenues. Under its agreement with the BDC a 10-year rent break expires this year, and it must now start to pay 22 per cent of operating profit, after certain allowable deductions, starting in the fiscal year 2008 with the payment due in 2009.
FORYS
Only ten years ago visitors to Baltimore Harbor were greeted by the grim sight of industrial desolation and run-down docks. But, following a decade of intensive regeneration not only is the area now aesthetically pleasing and thriving, more importantly for the city it is generating a great deal of business and tourism revenue.
That’s great news for the Baltimore City Development Corporation (BDC) as they expect businesses in the Inner and East Harbor areas to soon follow the lead of Marriott which became the first enterprise to start paying profit-sharing revenues in early January.
The Inner Harbor, which borders downtown Baltimore, and the Ravens and Orioles Stadia, is now a huge draw for sports fans, conference attendees and business travelers due to the amount of quality hotels and facilities in the area. Much of that phenomenal success is down to the vision of the BDC who agreed a series of innovative tax breaks to businesses ten years ago, designed to stimulate major developments and investment around the Harbour. By redeveloping the area the city hoped to build on the number of tourists and business travellers they could attract from nearby Washington D.C., only an hour’s drive away.
Under the agreements businesses were given favourable benefits, such as minimal annual property tax for an agreed number of years in return for a percentage of future profits. Under these agreements certain thresholds must be reached before the profit share pay-outs kick in. However, only six years after its construction the Marriott Waterfront became the first hotel in Baltimore to pay out to the City’s Development Corp. under the profit-sharing agreements. The first payment, for the fiscal year of 2006, was paid in early January 2008 and amounted to a healthy $820,000.
M.J. Brodie, president of the BDC, was pleased to receive the payment so soon. He said: “They’re doing much better than original estimates, which is great news for the city. The deal is now starting to produce fiscal returns, besides the returns already provided in jobs and all sorts of taxes.”
In addition to the hotels in the harbour area constructed using Development Corporation cash, the hugely popular Power Plant, which incorporates the nation’s first ESPN Zone and a Hard Rock Cafe amongst other attractions, is also a beneficiary. Residential developments such as Spinnaker Bay luxury apartments and commercial developments, including the under-construction headquarters of Legg Mason, has resulted in the establishment of an upscale residential and business area in the once run-down harbour environs.
Indeed, the Power Plant development looks set to be the next to start paying out profit sharing revenues. Under its agreement with the BDC a 10-year rent break expires this year, and it must now start to pay 22 per cent of operating profit, after certain allowable deductions, starting in the fiscal year 2008 with the payment due in 2009.
FORYS
Aug
5
Directbuy Locations in D.c. and Baltimore Areas Offer Tips on Setting Up the Perfect ‘outdoor Kitchen’
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Steve Dubin asked:
The six DirectBuy franchises of the greater Washington DC/Baltimore area, the leading members-only showroom and home design centers, not only sell “outdoor kitchen” units and other accessories at manufacturer’s low prices, but also offers some helpful pointers on selecting the right equipment and setup for your home.
For starters, when it comes to selecting a grill, DirectBuy recommends considering:
? Stainless steel gas or charcoal grills – outdoor kitchen means just that: outside! Your kitchen will be exposed to sun, rain, wind and even snow. Even covered, your grill will be exposed to the elements to a certain degree and you want a grill made of material that will withstand bad weather and corrosion.
? Free-standing or under-the-counter refrigeration units – help minimize trips to the “other” kitchen and gives you a place to store leftovers for the next cookout.
? Infra-red burners – make sure the grill you do select uses infra-red burners, which heat up faster.
? Storage – choose a grill with plenty of shelving and cabinets
“The beauty of the outdoor kitchen is it reduces trips to the real kitchen to get supplies. This means you can actually spend time with your guests while preparing your meal. That’s why it’s just as important when selecting your outdoor kitchen to not forget the comfort of your guests,” said Lee Brown, co-owner of DirectBuy of Chantilly. “DirectBuy also gives members the opportunity to save a lot of money by buying furniture for their outdoor kitchen, directly from the manufacturer.”
When it comes to selecting furniture for your outdoor “dining room,” there are a number of options in terms of style—sling, metal, cushioned and strapped to name a few–and materials—aluminum, iron, resin, teak, wood, wicker, fabric and vinyl. More choices mean more decisions on materials, fabrics and colors. DirectBuy not only has great outdoor furniture at manufacturer-direct prices, but also designers who can help you make some of those decisions.
“One safe rule of thumb is unless you’re planning to buy an entire set of outdoor furniture at once, stick with neutral colors like white, taupe or sandstone. Even if the shades aren’t a perfect match, it won’t matter if there’s a little distance between items,” said Brown.
Since 1971, DirectBuy has helped consumers enjoy enormous savings on home furnishings, home improvement items, entertainment and outdoor products, and accessories, by providing an avenue to purchase directly from the manufacturer. With six convenient locations in the Greater DC/Baltimore area, DirectBuy offers consumers an exclusive, comfortable environment, where they finally have the financial control of buying direct.
For more information on DirectBuy, you can visit www.directbuy.com or www.directbuycares.com.
About DirectBuy
Since 1971, DirectBuy has helped hundreds of thousands of families enjoy a better quality of life, enabling them to buy directly from more than 700 manufacturers and their authorized suppliers. Buying direct enables members’ hard-earned money to go much further, while having the selection and choice not available at any retail store. DirectBuy prides itself in providing excellent member service, access to confidential prices, local suppliers and unparalleled selection, all of which help make members’ dream projects a reality. It’s an exclusive, comfortable environment, where you finally have the financial control of buying direct. There are more than 150 franchise locations throughout North America.
Locations of the six DirectBuy showrooms serving greater Washington DC/Baltimore are: DirectBuy of Chantilly, 14231 Willard Road, Chantilly, VA, 703-817-0220; DirectBuy of Woodbridge, 3320 Noble Pond Way, Woodbridge, VA, 571-288-0200; DirectBuy of Columbia, 9515 Gerwig Lane, Columbia, MD, 443-539-3289; DirectBuy of Metro Washington NW, 202 Perry Parkway, Gaithersburg, MD, 301-926-1116; DirectBuy of Baltimore North, 10950 Gilroy Road, Hunt Valley, MD, 410-316-9000; DirectBuy of Southern Maryland, 9700 Martin Luther King Jr. Hwy, Lanham, MD, 301-731-0600.
Consumers interested in becoming members may obtain a Visitor’s Pass to attend an Open House by contacting DirectBuy at 1-800-218-5639. To learn more about the superior value and benefits of a DirectBuy membership, visit www.directbuy.com.
MYLES
The six DirectBuy franchises of the greater Washington DC/Baltimore area, the leading members-only showroom and home design centers, not only sell “outdoor kitchen” units and other accessories at manufacturer’s low prices, but also offers some helpful pointers on selecting the right equipment and setup for your home.
For starters, when it comes to selecting a grill, DirectBuy recommends considering:
? Stainless steel gas or charcoal grills – outdoor kitchen means just that: outside! Your kitchen will be exposed to sun, rain, wind and even snow. Even covered, your grill will be exposed to the elements to a certain degree and you want a grill made of material that will withstand bad weather and corrosion.
? Free-standing or under-the-counter refrigeration units – help minimize trips to the “other” kitchen and gives you a place to store leftovers for the next cookout.
? Infra-red burners – make sure the grill you do select uses infra-red burners, which heat up faster.
? Storage – choose a grill with plenty of shelving and cabinets
“The beauty of the outdoor kitchen is it reduces trips to the real kitchen to get supplies. This means you can actually spend time with your guests while preparing your meal. That’s why it’s just as important when selecting your outdoor kitchen to not forget the comfort of your guests,” said Lee Brown, co-owner of DirectBuy of Chantilly. “DirectBuy also gives members the opportunity to save a lot of money by buying furniture for their outdoor kitchen, directly from the manufacturer.”
When it comes to selecting furniture for your outdoor “dining room,” there are a number of options in terms of style—sling, metal, cushioned and strapped to name a few–and materials—aluminum, iron, resin, teak, wood, wicker, fabric and vinyl. More choices mean more decisions on materials, fabrics and colors. DirectBuy not only has great outdoor furniture at manufacturer-direct prices, but also designers who can help you make some of those decisions.
“One safe rule of thumb is unless you’re planning to buy an entire set of outdoor furniture at once, stick with neutral colors like white, taupe or sandstone. Even if the shades aren’t a perfect match, it won’t matter if there’s a little distance between items,” said Brown.
Since 1971, DirectBuy has helped consumers enjoy enormous savings on home furnishings, home improvement items, entertainment and outdoor products, and accessories, by providing an avenue to purchase directly from the manufacturer. With six convenient locations in the Greater DC/Baltimore area, DirectBuy offers consumers an exclusive, comfortable environment, where they finally have the financial control of buying direct.
For more information on DirectBuy, you can visit www.directbuy.com or www.directbuycares.com.
About DirectBuy
Since 1971, DirectBuy has helped hundreds of thousands of families enjoy a better quality of life, enabling them to buy directly from more than 700 manufacturers and their authorized suppliers. Buying direct enables members’ hard-earned money to go much further, while having the selection and choice not available at any retail store. DirectBuy prides itself in providing excellent member service, access to confidential prices, local suppliers and unparalleled selection, all of which help make members’ dream projects a reality. It’s an exclusive, comfortable environment, where you finally have the financial control of buying direct. There are more than 150 franchise locations throughout North America.
Locations of the six DirectBuy showrooms serving greater Washington DC/Baltimore are: DirectBuy of Chantilly, 14231 Willard Road, Chantilly, VA, 703-817-0220; DirectBuy of Woodbridge, 3320 Noble Pond Way, Woodbridge, VA, 571-288-0200; DirectBuy of Columbia, 9515 Gerwig Lane, Columbia, MD, 443-539-3289; DirectBuy of Metro Washington NW, 202 Perry Parkway, Gaithersburg, MD, 301-926-1116; DirectBuy of Baltimore North, 10950 Gilroy Road, Hunt Valley, MD, 410-316-9000; DirectBuy of Southern Maryland, 9700 Martin Luther King Jr. Hwy, Lanham, MD, 301-731-0600.
Consumers interested in becoming members may obtain a Visitor’s Pass to attend an Open House by contacting DirectBuy at 1-800-218-5639. To learn more about the superior value and benefits of a DirectBuy membership, visit www.directbuy.com.
MYLES