Baltimore city’s “Strategy Group” decides non-profit will not work
BALTIMORE, MD — The group, formerly known as the ‘steering committee’, formed at the request of the mayor have finally made their recommendations.
The Senator could not survive as a non-profit organization without an annual government subsidy. The alternatives:
Option 1: Baltimore City purchase the theatre by foreclosing on their loan, paying off 1st Mariner and then finding a management organization to run the theatre (either via sale or long-term lease, thereby recouping some of their outlay), still as a 1st run movie house.
Option 2: Allow 1st Mariner’s foreclosure to proceed and plan to “work closely” with whomever wins the bid. However, even they admit that they’d have limited say with this option.
More on: Friends of the Senator.