The corridor of Route 40 West, long known as the Golden Mile, is a vital gateway corridor into The City of Frederick. The Golden Mile is a of the traditional retail hub in the city. As the corridor aged and lost a number of key retail anchors as a result of corporate bankruptcy, the perception of decline surfaced around the Golden Mile.
In response, the Golden Mile Task Force formed in 2001 to address the concerns of the declining retail corridor. While many businesses still thrived in the area, decline was inevitable unless a proactive approach to revitalization was taken. The task force invested countless hours looking at the root causes for disinvestment, and ways to promote capital reinvestment and revitalization along the Golden Mile.
Golden Mile Commercial Property Tax Credit Program
From these initial efforts came the Golden Mile Commercial Property Tax Credit program, designed to incentivize the rehabilitation of commercial buildings along the Golden Mile. Within 18 months of the program kick-off, the Golden Mile saw more than $20 million in private investment. Five major businesses along the Golden Mile took advantage of the Golden Mile Tax Credit, filling most major vacancies and leading to a spin-off effect in support of the many smaller yet critical businesses in the area.
Golden Mile Small Area Plan
The Golden Mile is bustling with activity, and the City of Frederick is committed to keeping it that way. In 2010, the city’s Planning Department launched the Golden Mile Small Area Plan (PDF) initiative. This effort ties together the commercial physical and community considerations, with a goal of strengthen the neighborhood overall.
Documents & Resources
- Business Owner Survey Results (PDF)
- General Survey Results (PDF)
- Golden Mile Small Area Plan (PDF)
- Property Owner Survey Results (PDF)
Golden Mile Alliance
The Golden Mile Alliance formed in the fall of 2012 with a mission to promote and foster a vibrant and safe Golden Mile gateway community through business, neighborhood and economic development activities. The Alliance is a grassroots effort of Golden Mile businesses, residents, and property owners to continue the revitalization efforts along the Golden Mile and promote the corridor as a destination retail location. To learn more about the Golden Mile Alliance and keep up-to-date on projects and initiatives, find them on Facebook.
Next Meeting: The Golden Mile Alliance Board meetings are held the 3rd Tuesday of each month, 7 p.m. at the downstairs conference room of the Veterans of Foreign Wars (VFW) Post 3285.