Top 5: ‘We’re going to look at everything’

Jon Sham//February 11, 2011

Top 5: ‘We’re going to look at everything’

By Jon Sham

//February 11, 2011

After our investigative series into East Baltimore’s redevelopment ran in The Daily Record last week, the story is still unfolding with City Council approving investigative hearings and other developments. Between January’s revenue numbers from Maryland’s casinos and Baltimore soon getting a slice of that pie, slots stories were also frequently read on our site this week. Here are the top 5 staff business stories:
The Baltimore City Council unanimously approved Monday a resolution calling for a series of investigative hearings into the projected $1.8 billion development known as The New East Baltimore.
The resolution was introduced by Councilman Carl Stokes and had 10 co-sponsors. It calls for leaders of East Baltimore Development Inc., the nonprofit that is spearheading the project, to appear before the council and answer questions about the lack of progress in biotech development, job creation and new housing after a decade and the expenditure of more than $564 million.
As calls grow for new laws that would hold utility companies responsible for sub-standard responses to power outages caused by storms, executives from Pepco, Baltimore Gas & Electric Co. and Allegheny Power were grilled Tuesday by members of the Maryland House of Delegates.
A wave of winter storms and a summer that saw thousands of homes without power for days sparked criticism for how companies, especially Pepco, handled the problems.
Minority and women-owned contracting and service businesses have earned $64 million in contracts at The New East Baltimore redevelopment project so far, officials of East Baltimore Development Inc. said Tuesday.
At a forum held at Morgan State University by U.S. Rep. Elijah E. Cummings, D-Md., a crowd of about 80, many representing minority contracting companies and some individuals looking for work, were updated on the nation’s largest urban redevelopment project, a projected $1.8 billion effort in Middle East.
Starting in July, counties that have benefited from casino revenue will see a chunk of their money go to the city of Baltimore and Prince George’s County.
According to Maryland law, local jurisdictions get 5.5 percent of the slots revenue from the casino in their area. But beginning in fiscal 2012, 18 percent of that total — off the top, from every casino — will go to Baltimore. The law says Baltimore will get that money until 2027.
Hollywood Casino Perryville’s revenue has rebounded after the holiday months caused gamblers to spend their money elsewhere.
The state’s first casino reported it made $7.7 million in January, its highest revenue since October, according to figures released Monday by the Maryland Lottery Agency. That number is $1.1 million higher than the previous month, which was the casino’s slowest month to date.


Networking Calendar

Submit an entry for the business calendar