CITY OF BALTIMORE 2008 BRAC Update Baltimore Regional

CITY OF BALTIMORE 2008 BRAC Update

Baltimore Regional Efforts for BRAC n BDC and Live Baltimore, on behalf of Baltimore City, has fully participated in regional efforts n City has participated in numerous missions to Fort Monmouth n City has participated in every C 4 ISR Joint Symposium since BRAC decision was announced n City has hosted five residential bus tours, three of which included an overnight component – 800 people have attended n City is dedicated to the BRAC residential relocation effort through its “go live” date in September 2011 2008 BRAC Update

City BRAC Homebuying Incentives $6, 500 Baltimore City BRAC Homeownership Incentive 2008 BRAC Update

BRAC Residential Impacts on Baltimore n C 4 ISR employee zip code relocation data over last two years n n indicates that residential estimates were accurate 61 employees have located to Baltimore City – or 2. 5% of workforce Largest concentration of employees reside in downtown area stretching through Fells Point and Canton Fort Meade BRAC impact on Baltimore City was minimal due to proximity of DISA existing location Aberdeen BRAC impact on City – up to this point – has only been residential 2008 BRAC Update

Recent Residential Marketing Efforts November 2010 n Welcomed all BRAC-relocated individuals/families to housewarming event for a family who purchased home in Upper Fells Point. Event featured the Mayor and State representatives 2008 BRAC Update

Recent Residential Marketing Efforts February 2011 n City hosted a commuter happy hour to inform recently relocated residents of various commuting options. More than 30 people attended and expressed interest in car and vanpool options and MARC train service 2008 BRAC Update

Recent Residential Marketing Efforts September 2011 n Live Baltimore will host a BRAC-oriented Buying into Baltimore program for any employees completing the relocation process for the initial stage of BRAC 2008 BRAC Update

BRAC Growth Impacts on Baltimore City was excited about growth prospects of BRAC n Estimates regarding job growth and residential impact were conservative n Combined BRAC base effect could be great and Fort Meade’s BRAC impact would be greater on City than Aberdeen’s impact given distance n Fort Meade BRAC impact on Baltimore City was minimal due to proximity of DISA existing location n Aberdeen BRAC impact on City – up to this point – has only been residential 2008 BRAC Update

Challenges and Opportunities of BRAC -related Development in City n Defense contractors’ reluctance to “leave the nest” n Defense contractors’ reluctance to locate far from client n City remains confident that it will ultimately gain from BRAC through specific initiatives that are currently underway 2008 BRAC Update

Other Development in Baltimore Local Economy has Weathered the Recession Baltimore has been continually recognized by national publications as a location to weather the storm n Institutions such as government employers and universities are “recession-proof” or those that grow in down economies n Increase in downtown office vacancy has created a renter’s market – seeing increased levels of prospect activity due to unique real estate opportunities available for the first time n City has primed the bulb for several developments that will cost over $4 billion n 2008 BRAC Update

What’s Next in Baltimore City? Baltimore Grand Prix this September n Billion dollar expansion at Johns Hopkins Hospital n Harbor Point development – 27 -acre waterfront mixed use development - $150 million TIF n Westport Waterfront development – 42 -acre mixed use development - $110 million TIF n State Center development – government-oriented mixed use development n Major announcements regarding biotech, cybersecurity, and IT sectors coming n City exploring creation of downtown TIF district n 2008 BRAC Update