Tough decisions are being made in Annapolis about the state budget, and the long-time director of the Walter’s Art Museum announced he would be stepping down. Those stories and more in this week’s business top 5.

1. Analyst: ‘Doomsday Budget’ would cost 500 state jobs – by Alexander Pyles

Hundreds of state jobs would be eliminated and agencies would face across-the-board budget cuts should the Maryland Senate choose to pass a so-called “Doomsday Budget,” according to the state’s director of the Office of Policy Analysis in the Department of Legislative Services.

“I am not going to say the world would come to an end if all of this were to come to pass,” Warren G. Deschenaux told the Senate Budget and Taxation Committee Tuesday. “But it would be a different world.”

2. Beatty sealing Harbor East’s deals – by Melody Simmons

Days before Exelon Corp.’s Feb. 1 announcement that it had chosen to build a $120 million tower at Harbor Point, a frantic, last-ditch effort was underway by some in the local development community to steer the company toward the city’s central business core.

The flurry included a failed attempt by Pikesville developer Stephen Gorn to gain a $41 million payment in lieu of taxes, or PILOT, tax break at the site of the former McCormick & Co. spice plant — a quest that raced through the board of the Baltimore Development Corp. and into the office of Mayor Stephanie Rawlings-Blake at lightning speed.

3. Walters’ Vikan to step down as director – by Maria Zilberman

The best thing about the Walters Art Museum, according to Gary Vikan, is a Saturday afternoon.

“You just stand in that lobby and watch parents and children and young couples, African Americans, Hispanics — this is what a museum should be,” said the Mount Vernon museum’s director.

Vikan, 65, has served in his position for 18 years and has been with the museum for 27. He will step down at the end of June 2013, or once a successor is found, the museum announced Wednesday.

4. Editorial: Progress at Harborplace – by Daily Record staff

There are encouraging signs of renewal amid the noise and sawdust at Harborplace, the Baltimore waterfront’s aging, iconic centerpiece that turns 32 years old this summer.

While the extreme makeover is still a work in progress and some current tenants have closed temporarily because of the renovations, Harborplace officials say they are on schedule to unveil a spiffed up and —most important — 95 percent-occupied Light Street Pavilion in time for Memorial Day weekend.

5. Bethesda-based HMSHost will keep its travel plaza protest alive – by Alexander Pyles

Lawyers for the losing bidder on a project to renovate two Interstate 95 travel plazas will try to convince the Board of Public Works on Wednesday that the Maryland Transportation Authority violated procurement law in the bid process.

The board could vote on the contract award during its regular meeting Wednesday morning in Annapolis.

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Changes are coming to the Rotunda in Hampden and to the Light Street Pavilion at Harborplace, and East Baltimore residents rallied again in protest of EBDI. Those stories and more in this week’s business top 5.

1. Rotunda changes loom – by Melody Simmons

Outside the stately Rotunda development in Hampden Tuesday evening, the late winter sun set against a clear sapphire sky, offering a peaceful view.

Inside, the scene was less serene.

A group of local residents and business owners gathered for a meeting on the future of the mixed-use development that opened in 1971 as a retail hub in North Baltimore.

2. A big renewal for Harborplace – by Maria Zilberman

Right now, there is sawdust and only a handful of retail stores and restaurants open for business.

But come Memorial Day weekend, officials are hoping that an invigorated — and 95 percent occupied — Light Street Pavilion will greet Inner Harbor tourists.

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New restaurants come to West Baltimore and Arundel Mills and a new (and controversial) fountain coming to Union Square are among the most-read business stories of the week. The list also includes the Baltimore Grand Prix receiving new management. The Top 5 business stories of the week are:

1. Panera Bread opening on W. Baltimore St. — by Daily Record Staff

Panera Bread, a national chain of fast-casual restaurants, plans to open its third location in Baltimore City Wednesday at 400 W. Baltimore St., a retail redevelopment project across from the Hippodrome Theatre.

More than 50 full-time and part-time employees are expected to work in the 4,671- square-foot restaurant.

2. Suns could set on Hagerstown — by Maria Zilberman

The majority owner of the Hagerstown Suns has signed a letter of intent to move his minor league baseball team to Winchester, Va., but citizens in that community are pushing back against the idea.

The potential move comes after Major League Baseball and the Washington Nationals, with whom the Class-A Suns are affiliated, requested improvements to 82-year-old Municipal Stadium, where the team has played since 1981.

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Tax increment financing in the district surrounding Harbor Point could change just as Exelon Corp. prepares to build its Baltimore headquarters there. McCormick & Co. Inc. also announced this week they will be opening a retail store at the Light Street Pavilion this summer. Those stories and more in this week’s business top 5.

1. Lawsuit filed to void state lab construction contract at EBDI – by Melody Simmons

A lawsuit seeking to void the $170 million construction contract awarded for a new state Department of Health and Mental Hygiene lab at the East Baltimore Development Inc. site was filed Monday as plaintiffs charge that the contract was awarded to Turner Construction Co. without competitive bidding.

The 82-page suit was filed in Baltimore City Circuit Court against the state Department of General Services, DGS Assistant Secretary Michael Gaines, the Maryland Economic Development Corp., Forest City-New East Baltimore Partnership LLC and Turner Construction by Arnold M. Jolivet, his wife, JoAnn, the Maryland Minority Contractors Association Inc., and JCM Control Systems Inc., a minority-owned business based in Baltimore County. Jolivet is managing director of the contractors association.

2. Exelon’s $250M Harbor Point project to include retail and residences – by Melody Simmons

Exelon Corp.’s new building on the city’s waterfront in Harbor Point will be part of a $250 million development and will attract about 4,500 permanent jobs, company officials said Wednesday.

Details of the project were unveiled Wednesday by Exelon executives and the developer, Harbor East Development Group LLC, less than a week after the energy giant announced it planned to build a tower reaching up to 20 stories on a 27-acre tract that once held the AlliedSignal chemical plant.

3. Changes to Harbor Point TIF district proposed – by Melody Simmons

In the wake of Exelon Corp.’s decision to locate its Baltimore headquarters at Harbor Point, the city’s development agency is seeking to fast-track consideration of broadening the scope of a 27-acre tax increment financing district there approved a year ago.

The move is part of sweeping changes proposed for Harbor Point that include the $120 million building and a new roadway and bridge crossing over Central Avenue and linking the now cobblestone street to the headquarters, Baltimore Development Corp. officials said Friday.

4. McCormick to launch first retail store at Inner Harbor – by Maria Zilberman

Sparks-based McCormick and Co. Inc. is venturing into retail, launching its first store this summer in the Light Street Pavilion at Harborplace.

The “McCormick World of Flavors” 3,800-plus square foot-center will showcase the company’s products as well as hold cooking demonstrations by McCormick’s chefs and celebrity chefs using the firm’s products. There will be a gift shop and interactive family activities, such as finding your personal flavor profile and tracking the origin of spices.

5. TIF use could grow in Maryland with new legislation – by Melody Simmons

Legislation to expand the use of tax increment financing in certain growth areas of the state is expected to be introduced in the General Assembly next week, according to Jon Laria, chair of the Maryland Sustainable Growth Commission.

During a hearing before the House Environmental Matters Committee on Tuesday, Laria said the bill would allow for “more tools in the toolkit” to attract development and help promote smart growth with TIFs.

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A small Baltimore news website met its fundraising goal… and then some, and Hunt Valley-based AAI Corp. laid off nearly 200 employees this week. Those stories and more in this week’s business top 5.

1. Cross Keys sale appears near – by Melody Simmons

The sale of The Village of Cross Keys in North Baltimore to an Olney-based developer is under negotiation and could close as early as March, sources close to the pending deal said Tuesday.

General Growth Properties Inc., which put the upscale shopping center on the market last summer after it emerged from bankruptcy protection, is finalizing the sale to the Carl M. Freeman Companies for an undisclosed price, sources said.

2. AAI lays off 184 in Hunt Valley – by Maria Zimmerman

AAI Corp., a Hunt Valley-based aerospace and defense company, laid off 184 employees Tuesday at its Baltimore County location as part of a 217-person, companywide reduction.

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A Mt. Vernon landmark restaurant that closed down could be open again by spring and three annual coin shows threatened to leave Baltimore if Gov. Martin O’Malley’s budget eliminates their tax breaks. Those stories and more in this week’s business top 5.

1. Brass Elephant could reopen by spring – by Melody Simmons

The “old lady” is coming back.

Baltimore’s historic Brass Elephant restaurant could reopen as early as spring with new owners, a real estate agent said Wednesday.

Workers were busy Wednesday inside the Mt. Vernon landmark checking the restaurant’s kitchen and operating systems, and the sale could close within 30 days, said Martin Kibbe, a ReMax Studio Realtor who listed the upscale eatery.

2. Coin show threatens to leave Baltimore over O’Malley budget – by Nicholas Sohr

An Atlanta company threatened to uproot three annual coin shows from Baltimore and move them out of state Thursday after Gov. Martin O’Malley’s proposal to cut a tax break for precious coins and bullion sales.

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Lots of news from the General Assembly this week as the 90-day session began, and the Baltimore Ravens’ first home playoff game in five years means big things for local merchandise retailers. Those stories and more in this week’s business top 5.

1. Tremont Plaza to become apartments — by Melody Simmons

Baltimore’s Tremont Plaza Hotel will soon convert back to its original purpose: apartments.

The 390-suite property’s owners said Monday the rooms would soon be altered into apartments and long-term stay places.

Five members of the hotel’s sales staff were laid off on Friday after the renovations were announced, said Carol Chatham, a spokeswoman for the hotel’s owner, William C. Smith + Co. of Washington, D.C.

2. Miller, Busch consider different approaches for transportation – by Nicholas Sohr

Maryland’s top legislative leaders agree the state needs to spend more on transportation projects but they’re not willing to go along with the proposed 15-cent gasoline tax hike over three years.

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As if Baltimoreans needed a reminder to support their Ravens as they head into the playoffs, Mayor Stephanie Rawlings-Blake issued a statement Wednesday urging residents to “Light the city purple.”

On Tuesday, members of the Ravens own painting crew sprayed giant images of the team logo on Federal Hill and at War Memorial Plaza in front of City Hall. (The mayor was not able to make it to the logo painting events Tuesday, as she was last year.)

“I want to first congratulate Coach Harbaugh, the players, and the entire Ravens organization for their fourth consecutive trip to the postseason,” the mayor said in a statement. “A home playoff game is going to be great for Baltimore.”

Purple light fixtures are being installed on city buildings by the Department of General Services, according to the statement. (Baltimore County Executive Kevin Kamenetz announced later Wednesday the dome of the Old Courthouse in Towson will be turned purple Friday.)

The painting crew will also do its midnight stenciling next week, said Heather Harness, advertising and marketing manager for the Ravens.

“Hotels, bars, and restaurants in the city will benefit from the thousands of fans coming out to watch the game together,” said Rawlings-Blake.  “I look forward to joining thousands of fellow Ravens fans as we light this great city purple. Go Ravens!”

The Ravens have not had a home playoff game since after the 2006 season.

Watch the video from Tuesday’s giant logo stenciling at city hall

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