The City of Frederick Considers Memorandum of Understanding (MOU) to Advance the Downtown Frederick Hotel and Conference Center Project
The MOU defines the terms of the public-private-partnership between the City and hotel developer
MEDIA RELEASE
The City of Frederick Considers Memorandum of Understanding (MOU) to Advance the Downtown Frederick Hotel and Conference Center Project
The MOU defines the terms of the public-private-partnership between the City and hotel developer
Frederick, MD – November 13, 2015: On Wednesday, November 18, 2015, The City of Frederick’s Mayor and Board of Alderman will review the proposed Memorandum of Understanding (MOU) regarding the Downtown Frederick Hotel and Conference Center Project (the Project) at workshop. The proposed MOU defines the terms of the public-private-partnership between the City and Plamondon Hospitality Partners, the developer for the Project.
The Downtown Hotel and Conference Center Advisory Committee, along with key city officials, negotiated the MOU over the last several months. Once finalized, the MOU enables the developer to move forward with plans.
“Approval of the MOU is an exciting next step for this Project,” said The City of Frederick Mayor Randy McClement. “We have been in negotiations for several months, and have reached a good deal for the City. The MOU is a key step that lays the groundwork between the City, its partners, and the developer to move the Project forward. The MOU provides an appropriate return on investment for the community. The Project is a win for local and state governments, residents, and local businesses.”
The public return on investment calculations indicate that the Project is expected to
• produce a $26 million economic impact annually,
• support 110 direct and 280 total jobs, and
• provide $1.5 million incremental tax revenue to the State annually.
“Downtown Frederick is a logical choice for this transformational project,” said Frederick County Executive Jan Gardner. “The hotel conference center will spur economic development and tourism, and add vibrancy to Downtown Frederick.”
“Now that negotiations have concluded and we’re taking the MOU through the public process, we are able to discuss more details about the project,” said Earl Robbins, Chair of the Downtown Hotel and Conference Center Advisory Committee. “We are all very excited to move the project to the next step.”
An approved MOU will enable Plamondon Hospitality Partners to begin the next phase of the project – getting it “shovel ready,” or ready to construct. “Projects like this go through a process called development entitlements before they can go to construction,” said The City of Frederick’s Director of Economic Development, Richard Griffin. The entitlement process includes the various approvals, permits, and regulatory reviews needed to move forward.
“Building in an urban location, with structured parking and a high level of architectural design, is a costly proposition, but it will also generate high public returns. All of our studies indicate that a public-private-partnership model is the way to bring this project to fruition” said Griffin.
The Frederick County Chamber of Commerce has been a strong partner and advocate for the Downtown Frederick Hotel Project. “It has remained the number one priority of the Chamber’s Major Employer Group (MEG) for the past several years,” said Elizabeth Cromwell, President and CEO of the Frederick County Chamber of Commerce. “This project is a priority to retain and expand the business community in Frederick County,” she added. The Chamber and MEG helped fund feasibility studies and continue to advocate for the Downtown Hotel Project.
“The research conducted by our company shows strong market demand for a full-service Marriott hotel and conference center in Downtown Frederick along Carroll Creek Park,” said Peter Plamondon, Jr., Co-President of Plamondon Hospitality Partners. “It is our vision, that through this carefully designed facility, we will create Frederick’s public living room, where our residents, business and leisure travelers can relax, entertain, and host their families and colleagues.”
“We’re delighted all of our hard work in negations is paying off. With the approval of the MOU, we’ll be one step closer to opening the Downtown Frederick Hotel,” Cromwell added.
About the Project
The Downtown Frederick Hotel and Conference Center project is proposed as a 207 room full-service Marriott hotel. The project will feature on-site parking, nearly 24,000 square feet of meeting space, and it will be located in Downtown Frederick, adjacent to Carroll Creek Park. Studies indicate the project will produce $26 million in economic impact annually, support 110 direct and 280 total jobs, and provide $1.5 million incremental tax revenue to the State annually.
For more information, contact Richard Griffin, Director of Economic Development, at 301-600-6360 or rgriffin@cityoffrederick.com.
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