State Center project: New developer, but no go?
Maryland replaced Struever Bros. Eccles & Rouse -- which is dealing with debt woes -- as the lead developer for the reimagining of the State Center complex in Baltimore. But state officials are now wondering aloud whether this recession is really the time to redevelop their offices.
Treasurer Nancy K. Kopp says the state could top its debt limit within a decade if it goes forward with the $1.4 billion mixed-use project, Laura Smitherman and Lorraine Mirabella report. That touched off a debate about what's better -- spending money to help the economy or saving at a time when the state budget requires further cuts.
One side:
"We see this whole project as an economic stimulus when this economy really needs this kind of private investment," said Michael A. Gaines, a project manager at the Maryland Department of General Services. ... Gaines said more than 60 percent of the project's capital costs would be borne by private developers, and that the state has time to back out of the deal.
And the other:
"If we think we're going to go into a long depression, it would be kind of stupid to do such a development," said Sen. David R. Brinkley, a Frederick County Republican.
