MEDCO works with large corporations, small businesses, non-profit organizations, state supported higher education institutions, and State agencies to create uniquely beneficial financial and ownership structures. All projects undertaken by MEDCO are designed to meet the fiscal goals of MEDCO's clients and provide significant economic benefits to the State of Maryland and its citizens.

In 2000, MEDCO initiated the first projects under the One Maryland Program, a program funded by the Maryland Department of Business and Economic Development to provide economic development assistance to economically disadvantaged jurisdictions. Presently, Allegany County, Cecil County, Garrett County, Dorchester County, Worchester County, Caroline County, Somerset County and Baltimore City are eligible for One Maryland Program assistance. MEDCO has been, and is, involved with several projects under the One Maryland Program, including the following sample projects:

Barton Farm Business Park: MEDCO continues to work with Allegany County to develop the Barton Farms Business Park south of Cumberland on US Route 220. The project includes land acquisition, permitting, providing all utilities including water and sewer, and site preparation. Allegany County has limited land available for industrial use that has access to water and sewer service. In June of 2004, approximately 40 acres were sold to American Woodmark, which located a new assembly operation on this site.

The company expects to ultimately grow to 500 people once the plant is fully developed. American Woodmark Corporation, with corporate offices in Winchester, VA, is the third largest manufacturer of kitchen and bath cabinets in the United States. Offering more than 230 cabinet lines in a wide variety of designs, materials and finishes, American Woodmark products are sold through a network of dealers and distributors and directly to home centers and major home builders.

Pocomoke Industrial Shell Building: Construction of a 43,000 square foot industrial shell building in Pocomoke City, Worcester County is complete. MEDCO contracted to have the building designed and built. This project provides the town and county with new marketable flex space. One tenant, Swales Aerospace, a Maryland corporation providing flight hardware and flight load analysis for unmanned and manned space flight, has requested an additional 20,000 square feet to its current 2,500. MEDCO is engaged in negotiations for a master lease of the entire building with an entity which works with educational institutions and representatives from Maryland's aerospace industry to provide engineering, technology and system development for small to medium size payload and orbital launch vehicles.

St. Paul Street Garage: MEDCO assisted in financing and constructing a 514-space parking garage which opened in November of 2003 in the City of Baltimore. The 210 St. Paul Street Garage is located between Charles Street and St. Paul Place and assists in retaining CitiFinancial in the City and provides general parking. This project was transferred to the City of Baltimore.

Fleet-Eden Garage: MEDCO assisted in the financing and construction of a 1,200 space parking garage which opened in May of 2006. This garage now serves Sylvan Learning Systems and provides needed parking in the Inner Harbor East neighborhood. The competed project was transferred over to Baltimore City.

Southern Garrett Business Park: Construction of a 30,000 square foot building (expandable to 50,000) in Mountain Lake Park, Garrett County in the County's Southern Garrett Business Park is complete. MEDCO contracted to have the building designed and built. The County lacks available industrial buildings for immediate occupancy and this building assists in adding needed flexible/industrial space to the County inventory. In 2007 the original tenant ceased operations. MEDCO, the County and DBED are currently in discussions with a company which would create 20 new jobs in 2008 at this location.

Keyser’s Ridge Business Park: MEDCO assisted Garrett County by purchasing land just off Interstate 68 for the purpose of developing a new industrial park. The County has no industrial land available in the northern part of the County for development. The new park, Keyser's Ridge, will have up to 261 acres of developable land. Roadways and infrastructure have been completed. MEDCO, the County and DBED work cooperatively to attract other industrial and commercial users to the site.

Dorchester Shell Building: Construction of a 30,000 square foot building (expandable to 80,000) in Cambridge, Dorchester County, was completed in September of 2004. MEDCO contracted to have the building designed and built. ABC Supply, a national building supply company has entered into a lease for an initial 5 year term.

Maryland is a natural home for technology businesses seeking proximity to public institutions and resources that drive high tech initiatives. The National Institutes of Health, The Johns Hopkins University, NASA Goddard Space Flight Center, National Security Agency and other federal agencies and research institutions give Maryland companies unmatched access to technological transfer opportunities and an available high tech workforce. MEDCO is assisting a number of technology businesses and initiatives to further expand this vital sector of Maryland's economy. Examples of MEDCO's technology projects include:

Human Genome Science: HGS is a biopharmaceutical company specializing in the development, manufacturing and sale of protein and antibody drugs. The HGS campus integrates a number of highly specialized research laboratories, administrative offices and manufacturing centers. MEDCO has assisted HGS in raising capital, through bond issuance, for the renovation and expansion of existing buildings, as well as the acquisition and construction of new facilities.

Shire U.S. Manufacturing, Inc. (formerly Atlantic Pharmaceutical Services): This pharmaceutical manufacturing facility specializes in spray drying, granulation, tableting, pelletization and coating of pharmaceutical products. MEDCO assisted Shire with financing three facility expansions.

Patuxent Technology Park: To house a growing technology community and to foster new employment opportunities in technological fields, Calvert County worked with the Maryland Department of Business & Economic Development and MEDCO to purchase property and provide funding for site work and development at this new 90+ acre technology park. Development contracts for the park have been executed and infrastructure improvements have begun at the first site.

MEDCO InfoTech and Biotech Incubators Overview

MEDCO initiated its involvement with technology incubators in October 1996, with the inception of the UMBC Technology Center Project, in which MEDCO borrowed from the Maryland Department of Business and Economic Development and UMBC to purchase the old Lockheed Martin building on South Rolling Road. Since that time, MEDCO has expanded its role in financing and owning technology incubators and presently owns or operates seven incubators. MEDCO has contracted with property managers to run and oversee the day to day aspects of these projects. MEDCO maintains oversight and sets new policy for these projects through periodic reviews and communications with project managers.

Here is an overview of those seven incubators and an overview of MEDCO's virtual licensee program:

Maryland Technology Development Center (MTDC)
On June 18, 1998, MEDCO issued $4,490,000 in 20 year, taxable, non-recourse bonds and, in combination with $3,314,414.00 in State grant, financed the construction of the MTDC. The MTDC contains approximately 57,000 square feet of space and is specifically designed to meet the requirements of both information technology and biological technology startup companies. Overall, the MTDC creates an environment in which entrepreneurs involved in info and bio technology can share experiences and best practices, and develop partnerships, joint ventures or other forms of collaboration.

Since its inception, the MTDC has successfully graduated over 65 bio and info tech companies. Of the 65 successful graduates, 60 are still in business in the State of Maryland and have created approximately 1400 jobs.

Currently the MTDC has 47 companies licensing space, 29 of which are info tech companies and 18 of which are bio tech companies. Companies in the MTDC presently employ more than 172 employees.

Silver Spring Innovation Center (SSIC)
The SSIC is a free standing building, located in and owned by Montgomery County that contains approximately 40,000 square feet of space and offers 40 individual offices of virtually every shape and size, with conduit property management by MEDCO. The SSIC offers the same business support services made available at the MTDC and excels in providing fast and efficient telecommunication connections for all of its companies.

Since its inception in the summer of 2004, the SSIC has graduated 5 info tech companies that currently employ 80 employees.

Presently the SSIC licenses 33 of the 42 available offices to 18 information technology companies. SSIC companies employ over 105 employees.

Emerging Technology Center @ Johns Hopkins Eastern (ETC Eastern)
MEDCO assembled financial commitments from Maryland Department of Business and Economic Development, the Maryland Technology Development Corporation, US Department of Commerce-Economic Development Administration, U.S. and Maryland Historic Tax Credits, Baltimore Development Corporation, and The Johns Hopkins University to assist in building out space in the former Eastern High School redevelopment project in Baltimore City.

The ETC Eastern facility contains approximately 45,000 square feet of fully wired office space distributed over 37 separate offices. ETC Eastern, with conduit property management by MEDCO, is managed and financially supported by the Baltimore Development Corporation and provides its companies with an assortment of business assistance services. Due to its affiliation with NASA, ETC Eastern also provides fast tracking for those companies who develop technology of special interest to NASA.

Currently ETC Eastern has 34 companies licensing space at the facility. The 34 companies at ETC Eastern currently employ 194 employees.

Emerging Technology Center @ Canton (ETC Can)
In March 1999, renovation began on improvements at the Emerging Technology Center at the old Can Company building on Boston Street in Baltimore City. ETC Can is another NASA Incubator Program that contains approximately 48,909 square feet of fully wired office space distributed over 27 separate offices. ETC Can, with conduit property management by MEDCO, is managed and financially supported by the Baltimore Development Corporation and provides its companies with the same business assistance services that are made available at ETC Eastern, including NASA fast tracking.

Currently ETC Can has 24 companies licensing space at the facility. Those 24 companies presently employ 246 employees. ETC Can has graduated 31 companies, 27 of which are still in business and currently employ 372 employees.

Techcenter @ UMBC
The Techcenter @ UMBC contains approximately 170,000 square feet of space, including 75,000 square feet of specialized laboratory space. Techcenter @ UMBC offers a variety of office and business support services. The Tech Center is owned by MEDCO and managed by the University and focuses on creating collaborative relationships between the incubator businesses and the University.

Currently the Techcenter @ UMBC has 34 start-up companies, emerging high-tech and bio tech companies licensing space at the facility. The companies at the Techcenter @ UMBC provide over 100 jobs, including more than 30 UMBC students.

Since its inception, the Techcenter @ UMBC has accommodated 90 start-up companies, of which more than 30 have successfully graduated, and have moved into the independent business world and currently employ 260 employees.

Wheaton Business Innovation Center (WBIC)
In April of 2006 MEDCO entered into a Management Agreement with Montgomery County for the management oversight of several business and technology incubators, including the WBIC. MEDCO acts as a conduit property manager and has hired SPI Asset Management, LLC to perform the day to day management. SPI Asset Management and County representatives work closely and collectively to administer the tasks necessary for the operations of the WBIC, which is located at 11002 Veirs Mill Road, Wheaton, Maryland.

Currently the WBIC has 19 companies licensing 34 of the 36 office available. WBIC companies employ 36 employees.

Rockville Innovation Center (RIC)
On July 12, 2007 MEDCO obtained a non-recourse loan in the amount of $4,700,000.00 with Mercantile Potomac Bank for the construction of a two story information technology incubator as part of a five story mixed use building in Rockville, Maryland. The remaining space is intended to be occupied by a local cultural center, retail uses and office condominiums. The RIC is backed by a reimbursable construction grant agreement (by and between TEDCO, Montgomery County and MEDCO) and an operational grant agreement (by and between MEDCO and Montgomery County). MEDCO acts as owner and as conduit property manager in this transaction and has hired SPI Asset Management, LLC to perform the day to day management details necessary for the Center. SPI Asset Management and County representatives work closely and collectively to administer the tasks necessary for the operations of the RIC. Currently the RIC has 11 companies licensing 20 of the 53 office at the facility. RIC currently employs 31 employees.

Montgomery College Germantown Innovation Center
Montgomery College and the County (DED) are renovating a vacant 67,000 square foot commercial building adjacent to the Germantown Campus. The Montgomery College Foundation will lease the entire building until 2011. In 2011, the Foundation will purchase the building for $13 million, plus interest. The College will renovate the first floor to create classroom space and office space for the Provost. The County will sublease the second floor (roughly 35,000 SF) from the College and renovate it for the Germantown Innovation Center at a cost of 6.9 million dollars. This incubator will include 12 labs, two clean room facilities, 8,500 SF of office space and typical incubator common areas including a multi-purpose room, smaller conference rooms, a lunch room, mail/copy room. Montgomery County has requested MEDCO's assistance in the construction and project management to complete this project.

Virtual Licensees
In the spirit of Great Britain's HUB concept, MEDCO and Montgomery County collectively designed a concept that would allow researchers, scientist and entrepreneurs with limited capital to have usage of certain incubator resources on a scheduled basis for a minimal monthly fee. Such resources include mailbox space, shared office resources (phone, fax, copy machine, computers, etc.), conference rooms and access to programs offered at the various incubators located in Montgomery County (business advice counseling, intellectual property/legal advice, etc.). This program presently extends to the MTDC, SSIC, WBIC and RIC incubator facilities, but will extend into future Montgomery County incubators as well. There are currently ten (10) virtual licensees.

Maryland's public institutions of higher education work with MEDCO on a number of projects ranging from development and acquisition of student housing facilities, to financing of academic buildings and infrastructure projects. MEDCO gives the State's universities and colleges flexibility in financing projects important to the continuing educational needs of Maryland's citizens. Examples of MEDCO's higher education projects include:

University of Maryland College Park Energy Project: MEDCO leased the pre-existing utility systems serving the campus at College Park and contracted for renovations and expansions to and operations of those systems. Tax-exempt bonds were issued to finance the improvements, which include new gas turbines for increased electric generation. College Park Energy, LLC is MEDCO's contractor for the project and Sebesta Blomberg is MEDCO's consultant/advisor on technical issues. The University expects to save millions of dollars in energy costs as a result of the new state-of-the-art energy equipment.

Student Housing Projects: MEDCO, through the issuance of student housing revenue bonds, has aided institutes of higher learning throughout Maryland by financing and owning student housing projects. Institutions that have sought MEDCO's financing for such student housing projects include:

• University of Maryland, Baltimore County
• Frostburg State University, Allegany County
• Morgan State University, Baltimore City
• University of Maryland, Baltimore City
• Bowie State University, Prince George's County
• University of Maryland College Park, Prince George's County
• University Village at Sheppard Pratt, Baltimore County
• Salisbury State University, Wicomico County
• Towson University, Baltimore County
• Allegany College, Allegany County
• Garrett Community College, Garrett County

Chesapeake College Industrial Training Center: In September of 1995, MEDCO purchased from the County Commissioners of Dorchester County a fully renovated former two-story department store in downtown Cambridge, Maryland using a $ 1,013,962 .51 loan from the MICRF program of DBED. The facility is leased to Chesapeake College for use as an adult education and industrial training center as an adjunct to its academic program. MEDCO's purchase completed more than two years of extensive state and local development efforts to utilize a large, empty structure in the downtown area and to stimulate job creation by providing an attractive workforce.

Non-profit organizations which enhance the lives of Maryland citizens turn to MEDCO to provide financing through the issuance of tax-exempt bonds. Examples of MEDCO's non-profit projects include:

EASTER SEALS GREATER WASHINGTON-BALTIMORE REGION, INC.: MEDCO issued bonds to fund the Easter Seals Greater Washington-Baltimore Region, Inc.'s construction of a building containing approximately 41,000 square feet above grade and underground parking containing approximately 34,000 square feet on a parcel of land containing approximately .6 acres located at 1414 Spring Street, Silver Spring, Maryland.

Your Public Radio Corporation (WYPR): MEDCO issued bonds to fund WYPR's acquisition of radio broadcasting licenses, transmitting equipment, transmitting facilities, and other real and personal property used in the broadcasting business owned by WYPR, or its affiliated or related business entities, located in Baltimore City and Frederick County, Maryland.

Associated Catholic Charities: MEDCO issued bonds to fund The Associated Catholic Charities' construction, renovation, and expansion of assisted living facilities, treatment centers, offices, nursing homes, and group homes throughout Maryland.

The Associated Jewish Community Federation of Baltimore: MEDCO issued its non-recourse tax exempt revenue bonds to assist The Associated Jewish Community Federation of Baltimore in financing and refinancing of various capital projects, including: construction of a Park Heights campus pre-school, Center for Jewish Education headquarters and Resource Center, and Jewish Family Services headquarters; construction of a Hillel Building at Johns Hopkins University; construction and renovations at Concord Apartments; acquisition and renovations at Recovery House; acquisition of Rosewood Campus land; and new construction and expansion of the fitness facilities at the Owings Mills Campus.

Lutheran World Relief/ Immigration and Refugee Service: MEDCO issued its non-recourse tax-exempt revenue bonds for the acquisition, development and construction of a six-story office building in downtown Baltimore to house the Lutheran World Relief and Lutheran Immigration and Refugee Service headquarters.

Federation of American Societies for Experimental Biology (FASEB): MEDCO issued bonds to finance a portion of the costs of FASEB's 11-acre office campus in Bethesda, Maryland. The new four-story office building, garage, and atrium will greatly expand the capacity of FASEB's existing facility. FASEB is a coalition of independent member societies that serve the interests of biomedical and life scientists, particularly those related to public policy issues. FASEB facilitates coalition activities and disseminates information on biological research through scientific conferences and publications.

Baltimore Museum of Art: When a collection of art amassed by Baltimore-native George A. Lucas became available for purchase in 1996, the Baltimore Museum of Art sought to acquire it. The collection is one of the best representations of a 19th century art collection and includes works by Whistler, Manet, and Cassatt. MEDCO provided the tax-exempt financing for the $8.5 million purchase.

Baltimore Association for Retarded Citizens (BARC): MEDCO issued, on behalf of BARC, tax-exempt revenue bonds and taxable revenue bonds to: finance the acquisition of land, construction, renovations and improvements to the BARC Employment Center at the Seton Business Park, Baltimore City; refinance the debt associated with the acquisition and renovation at the Walbrook Center, Baltimore City; and pay the capital improvement cost of the York Road facility which will provide adult medical day care facilities.

YMCA of Central Maryland, Inc.: MEDCO issued bonds to finance and refinance several capital projects for YMCA facilities in Harford, Howard and Carroll Counties.

Maryland continues to be a popular tourist destination. MEDCO is helping to expand the geographic scope of Maryland's tourism economy, drawing tourists to areas of the State beyond frequently visited locations in the region like Baltimore, Ocean City, and Washington, DC. New resorts made possible by MEDCO help create jobs, provide opportunities for local merchants, and create awareness among Marylanders and people throughout the Mid-Atlantic. Examples of MEDCO's tourism projects include:

	Maryland Science Center: More than 500,000 people visit the Maryland Science Center each year. The Maryland Science Center, with MEDCO’s bond financing assistance, in May of 2004 finished a major expansion and renovation of the entire facility.
	Hyatt Regency Chesapeake Bay: This world-class golf resort, spa and marina is located in Cambridge on the Eastern Shore of the Chesapeake Bay. The luxury resort offers 400 rooms, 35,000 square feet of meeting and banquet space, six food and beverage outlets, an 18-hole championship golf course, a 150-slip marina, an 18,000 square foot spa, an extensive swimming pool and children's recreation center. MEDCO has retained Hyatt Corporation as manager.
	Rocky Gap Lodge & Golf Resort: Situated in Maryland's picturesque Alleghany Mountains, Rocky Gap boasts an 18 hole Jack Nicklaus signature golf course, a 243-acre lake, and a AAA 4-diamond resort lodge. Guests from Baltimore, Washington, and Pittsburgh regularly make the short, scenic drive to this mountain retreat. MEDCO has seen the project through its initial financing phases, beginning in 1996, through its grand opening in 1998, currently retaining Crestline Hotels & Resorts, Inc. as manager.

MEDCO works with the State government to create advantageous ownership and financial structures for many of Maryland's infrastructure projects. This provides the State agencies with a degree of flexibility and expediency on infrastructure projects, and creates savings for Maryland's taxpayers. Examples of such MEDCO Projects include:

Maryland Department of Transportation (MDOT) Headquarters Building: To make room for a new 8000 vehicle-parking garage to serve BWI Airport, MDOT moved to a new headquarters building in Hanover, Maryland. MEDCO financed the MDOT lease for the new facility to pay for construction of its new headquarters building in Hanover, Maryland. Southwest Airline Terminal/BWI Airport Expansion: Working with the Maryland Aviation Authority of MDOT, MEDCO issued bonds and financed the MAA household expansion and renovation of the Thurgood Marshall Baltimore Washington International Airport to accommodate both expanded airline operations of Southwest Airlines and special airport expansion. MEDCO has seen the project through its initial financing in 2003 to its opening.

MEDCO assists qualifying small businesses with financing equipment and acquisitions of facilities that aid in adding and retaining manufacturing jobs in Maryland. Examples of MEDCO's manufacturing projects include:

Gamse Lithographing Company, Incorporated of Delaware: MEDCO issued its bonds to fund Gamse Lithographing Company, Incorporated of Delaware's acquisition, construction, furnishing and equipping of manufacturing equipment and machinery, including a Heidelberg Press and related equipment and accessories, installed at an existing manufacturing facility located 7413 Pulaski Highway, Baltimore, Maryland.

BINDAGRAPHICS, INC.: MEDCO issued its nonrecourse bonds to fund Bindagraphics, Inc.'s purchase and installation of vehicles, equipment and machinery for use in the Borrower's business of binding and specialty packaging business located in Baltimore, Maryland.

Ottenberg's Bakery, Incorporated: MEDCO issued its nonrecourse revenue bonds on behalf of Ottenberg's Bakery, Inc. to finance the cost of capital improvements and to purchase equipment for installation in the baking and manufacturing facility in Carroll County, Maryland.

Joe Corbi's Pizza: MEDCO issued nonrecourse tax-exempt variable rate demand revenue bonds for Joe Corbi's Wholesale Pizza, Inc. Joe Corbi's Pizza will use MEDCO's unique financial assistance to purchase and install manufacturing equipment, purchase equipment to improve the warehouse located in Baltimore, Maryland.

Mirage-Tucker, LLC Facility: MEDCO assisted Mirage-Tucker, LLC, a cosmetics manufacturing company, in financing the acquisition of land and a facility at 10721 Tucker Street, Beltsville, Prince George's County, MD. Renovations to the building, acquisition and installation of new machinery and equipment, and construction and installation of leasehold improvements were also included in the financing arrangement.

Phenix Technologies, Inc (Redrock, LLC): MEDCO issued non-recourse revenue bonds for the Phenix Technologies, Inc, Project to finance the costs of the land, construction and equipping of a new manufacturing facility containing approximately 53,340 square feet. The new facility is located in the Central Garrett Industrial Park, Garrett County, Maryland.

Hardwood Mills, Inc: MEDCO issued tax-exempt non-recourse demand revenue bonds on behalf of Hardwood Mills, Inc., Millington, Queen Anne's County, Maryland. MEDCO loaned the proceeds of the bonds for the construction of a building containing approximately 48,000 square feet (on land owned by the company), as well as the acquisition and installation of new machinery and equipment for milling logs and other costs associated with the project.

Canusa Hershman Recycling, LLC/ Quad Five, LLC.: On August 12, 2005, MEDCO issued its non-recourse variable rate demand revenue series B bonds to Quad Five, LLC and series A bonds to Canusa Hershman Recycling, LLC in order to finance the cost of the acquisition of, reconstruction of, and installation of equipment to real property located in Baltimore, Maryland.

General Motors Corporation Allison Transmission Plant: MEDCO issued its non-recourse taxable financing for the Allison Transmission Plant in Baltimore County, Maryland. General Motors borrowed from the MICRF Program offered by DBED for another part of the overall financing to construct an electric substation for the project through an "installation agreement".

MEDCO, through the direct attendance of its executive director, assists in the expansion, modernization and retention of existing Maryland business by maintaining board memberships and advisory positions with various organizations throughout the State. Such organizations include:

Maryland Industrial Partnership (MIPS) - Initiated in 1987, MIPS is an organization which promotes the development and commercialization of products and processes through research partnerships between universities and industries. Since its inception, 687 projects, 286 companies and 11 University System of Maryland institutions have participated. MEDCO’s executive director is a member of MIPS' advisory board.

Maryland Technology Development Corporation (TEDCO) - Created by the State legislature in 1998, TEDCO facilitates the creation of businesses and fosters their growth through the commercialization of technology. MEDCO's executive director serves as a member of TEDCO's Technical Advisory Board for Small Business Incubation.

PenMar Development Corporation - Established in 1997 as a public instrumentality of the State, the purpose of the PenMar Development Corporation is the redevelopment of the Fort Richie site, located in Washington County, as a corporate conference and training center. MEDCO's executive director serves as an ex-officio member of the board of directors.

Bainbridge Development Corporation - Established in 1999 as a public instrumentality of the State, the purpose of the Bainbridge Development Corporation is to develop the Bainbridge Naval Training Center, which closed in 1976, and to accelerate the transfer of the site to the private sector. MEDCO's executive director is an ex-officio member of the board of directors.

Emerging Technology Centers (ETC) - The ETC is a non-profit business incubator venture of the Baltimore Development Corporation that helps early-stage companies grow and prosper. As part of the Baltimore Development Corporation, the ETC also uses its resources to promote economic development specifically in Baltimore City. MEDCO's executive director serves as a member of the ETC's advisory board.

Adventure Sports Center International (ASCI) - ASCI was created in order to establish an International Adventure Sports Center (the "Center") as a focal point in the emerging and expanding adventure sports industry worldwide. The Center is designed to promote, educate and facilitate participation in a wide range of adventure-based recreational activities while simultaneously creating a unique destination that serves to support local economic development and as a model for communities wishing to capitalize on their intrinsic natural resource base while protecting its integrity. MEDCO's executive director servers as a member of the ASCI board of directors.

Lexington Park Flattops - MEDCO has been providing advice to St. Mary's County’s redevelopment organization on numerous issues to have this site redeveloped for industrial purposes and at the same time meet the Navy's concern for land use within their flight zones.

Washington County Public Schools Barbara Ingram School of the Arts - MEDCO's Executive Director was invited to be part of a group to assist the WCPS in arranging the financing for the renovation of a downtown Hagerstown art school. The Facility was donated to the City and is in the heart of the Hagerstown Arts District. MEDCO provided alternative structures to finance the cost of renovating and equipping the facility as well as advice and assistance in establishing the partnerships to take advantage of the Maryland Historical Tax Credits. While MEDCO did not participate in the final financing, advice and guidance was provided which ultimately allowed for the arrangement of an alternative financing scenario.