January 26th, 2015 by WCBC Radio
WCBC News has obtained a copy of a report from the Maryland Department of Legislative Services concerning the Canal Place Preservation & Development Authority.
The report is an analysis of the FY 2015 Maryland Executive Budget, and reviews the history of the authority, how funds are being obtained and spent, and a recommendation on a path forward.
The report recommends that Canal Place comment on its current financial condition and if there is any possibility for the authority to renew accommodation tax revenue agreements with Cumberland and Allegany County.
The kicker is that the Department of Legislative Services is asking for a comprehensive report on how to transfer the authority from state ownership to some other entity, whether it be public or private in nature.
Options would include merging into another state agency, transitioning the property to Allegany County or the City of Cumberland, transitioning the property to the National Park Service, or to cease operations.
The report also makes note that funding for Canal Place has declined by more than $100,000 despite the O’Malley Administration adding $116,000 from the general fund for the current fiscal year.
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