Opinion ID: 2320269
Heading Depth: 2
Heading Rank: 1

Heading: City of Baltimore Development Corporation

Text: The City of Baltimore Development Corporation (the BDC) was formed in October of 1991 with three members: Claude E. Hitchcock, Lyn W. Townsend, and Arnold Williams. The initial Board of Directors was composed of four individuals: William R. Brown, Jr., Honora M. Freeman, Robert W. Hearn, and Lynette W. Young. [6] The BDC is a not-for-profit corporation. The BDC's stated purpose is: (1) To develop and implement long-range development strategies for commercial, industrial, office, residential, and other development in the City of Baltimore (the `City'); to serve as a liaison between the private and public sector to coordinate development efforts and to expedite the review of public approvals and other government services in the City; and to undertake any other appropriate activity to achieve the continued strong business climate, urban renewal, and development throughout the City; (2) To implement, oversee, and encourage public and private development and rehabilitation projects that will increase the City's tax base (by, among other things, assisting the City (and new and existing business) to finance new and expanding operations), provide permanent and temporary jobs (and job opportunities) in the City, and foster investment and confidence in the City's economy; (3) To enhance and improve the physical and cultural environment of the City through the creation of public open space, improved transportation systems, and the encouragement and creation of public attractions for local residents and visitors; to encourage cultural, entertainment, recreational, historic, and educational facilities that will further the promotion of the benefits of living in or visiting the City; to bring new spending power to the City's economy; to enhance and improve the image of the City as a place to live, work, and visit; and to encourage new residential initiatives in the City; (4) To improve the economic health of the City through attraction of new businesses, retention of existing businesses, and the stimulation and encouragement of growth and expansion of commercial office uses, manufacturing, warehousing, distribution, research, and development, including industrial application of new technologies, particularly in the medical and biotechnological spheres and `space age' technologies with maximum growth potential; (5) To increase minority business enterprise and women's business enterprise participation in business and development activity; (6) To provide in the furtherance of these declared purposes, financing, financial assistance, and financial advice, including but not limited to activities permitted under programs of the Small Business Administration and other economic development programs of the Federal, state, or local governments; such activities to include buying and selling real property and developing and leasing such property, together with the creation of financial instruments and entities appropriate for such purposes; (7) In furtherance of these declared purposes, to carry out a contract or contracts, as amended from time to time, between the Corporation and the City; such services as therein specified, or to be specified, to include, by example and not by way of limitation, the coordination of public functions such as the preparation, adoption, and execution of Urban Renewal Plans, Planned Unit Developments, Industrial Retention Zones, and Free Enterprise Zones; (8) To coordinate activities of local, state, and Federal agencies as well as private for-profit and non-profit entities for the purpose of achieving the Corporation's objectives, and to receive and expend funds from any legal source for any legal purpose so long as consistent with its declared purposes; (9) To undertake activities within the City or outside the City when such activities are reasonably anticipated to have an impact on the City; which activities may include research, planning, and investigation, as well as developing and maintaining public and private sector contacts in furtherance of these corporate purposes; and (10) To do anything permitted by Section 2-103 of the Corporations and Associations Article of the Annotated Code of Maryland as amended from time to time, subject to any limitations imposed under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended from time to time. . . .  Amended Articles of Incorporation of the City of Baltimore Development Corporation, ART. FOURTH, October 4, 1991.