HEARING ALERT: Maryland Stadium Authority - Ocean City Convention Facility - Renovation

Important Legislation Spurs Economic Activity For Ocean City

“This facility has long been an important economic driver for Ocean City, bringing in thousands of visitors for conferences and events like MACo and allowing local businesses to stay open and continue to hire year-round.” - Governor Larry Hogan, August 16, 2018

Maryland Stadium Authority - Ocean City Convention Facility - Renovation

Governor Hogan’s Proposed Legislation Gives The Maryland Stadium Authority The Needed Capacity To Finance The Addition And Renovation Of The Roland E. Powell Ocean City Convention Center. “Unless authorized by the General Assembly, the Board of Public Works may not approve an issuance by the Authority of bonds, whether taxable or tax exempt, that constitute tax supported debt or nontax supported debt if, after issuance, there would be outstanding and unpaid more than the following face amounts of the bonds for the purpose of financing acquisitions, construction, renovation, and related expenses for construction management, professional fees, and contingencies in connection with:... the Ocean City Convention facility - [$17,340,000] $24,500,000… Except as allowed by § 10-639 of this subtitle, to finance site acquisition, construction, and renovation of any segment of an Ocean City Convention facility, the Authority shall comply with this section.” (“Senate Bill 177,” Maryland General Assembly, 1/21/19)   

• Convention Center Expansion Could Employ Nearly 700 Additional Individuals, $67 Million In Additional Economic Activity. “The extra space could lead to about 22 additional events a year, up from about 82 annually, according to a 2017 study for the Maryland Stadium Authority. The study also estimated that the expansion would create between 470 and 670 new jobs and generate as much as $67 million in new economic activity.” (Natalie Sherman, “Maryland Gov. Hogan Pledges $2o Million In State Funds For Ocean City Convention Center Renovation,” The Baltimore Sun, 8/16/18)

Governor Hogan’s Proposal Receives Strong Bipartisan Support

Ocean City Mayor Rick Meehan: “The expansion of the Convention Center is important to Ocean City and the State of Maryland. Not only does the Convention Center generate revenue locally but has a positive economic impact on the State.” (Press Release, “Governor Larry Hogan Announces Funding For Final Expansion Of Ocean City Convention Center,” Office Of The Governor, 8/16/18)

Senator Mary Beth Carozza: “I am excited for the expected economic impact and increase of jobs this expansion will bring… This will not only attract new clients to the convention center, but allow our current ones to expand.” (“Hogan Announces $20 Million Investment In Convention Center Expansion,” Mary Beth Carozza, 8/16/18)

Former Senator Jim Mathias: “I’m very happy to have the governor as an ally on the project that I’ve worked on in public service for 20 years.” (Greg Ellison, “Center Expansion Awaits Legislature,” Ocean City Today, 8/23/18)