State Ownership of Building
The building is owned by the Maryland Port Administration. As a result, there have been public discussions about whether it should be sold in debates over state budgets. In the "Maryland Transition" report to the incoming Governor Martin O'Malley in January 2007, the Transportation work group noted that former Governor Robert Ehrlich favored selling the Baltimore World Trade Center. Governor O'Malley chose to maintain state ownership.
During the fiscal year ended June 30, 2008, the Baltimore World Trade Center incurred an operating loss of $2.3 million. This was due to an occupancy rate that had declined to 43 percent by March 2008. A low occupancy level was expected "to make it easier to sell."
The Maryland Board of Public Works took two important steps in 2007 and 2008 toward improving occupancy at the World Trade Center: streamlining lease approvals and hiring an agent. In December 2007, the Board delegated its lease approval authority to the Secretary of Transportation. Meridian Management Corp. was awarded a 5-year contract, beginning on June 10, 2008, to serve as the World Trade Center's leasing agent. Meridian's contract, approved by the Board of Public Works on May 21, 2008, also includes operation and maintenance of the building.
Read more about this topic: Baltimore World Trade Center
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