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March 31, 2000

UMBC RESEARCH PARK REACHES SETTLEMENT WITH COMMUNITY COALITION

The UMBC Research Park Corporation and the Coalition for the Preservation of Southwest Baltimore County have reached a settlement agreement that allows construction of the proposed park to begin later this year.

The agreement effectively reinstates the development plan approved by the Baltimore County hearing officer in 1998 for a five-building, 342,000-square-foot research park to be built on 41 acres of the University of Maryland, Baltimore County (UMBC) campus. This approval was under appeal by the Coalition seeking a broader definition of the surrounding neighborhood.

The UMBC Research Park has signed a letter of intent with its first tenant RWD Technologies who plan to move their new Applied Technology Laboratory into the first building in the fall of 2001. Real estate developer Grosvenor International will construct the RWD facility and is planning a second, 42,000-square-foot multi-tenant building.

\\"We are very pleased to have been able to work out a mutually satisfactory agreement with the community coalition and proceed with our plans to break ground this summer,\\" said Ellen Wiggins, Executive Director of the UMBC Research Park Corporation.

The UMBC Research Park\\'s goal is to build on the university\\'s strength in high-tech fields like engineering and information technology. The park will help foster research and development collaborations among UMBC faculty, students and industry while creating jobs for the Baltimore region.

Posted by dwinds1 at March 31, 2000 12:00 AM