Calvert Partners with the Maryland Economic Development Corporation to Revitalize Chesapeake Hills Country Club

PRINCE FREDERICK, Md., -- August 21, 2001 -- The Calvert Board of County Commissioners announced today that the Maryland Economic Development Corporation (MEDCO) will purchase Chesapeake Hills Country Club in Lusby, Md., from Chesapeake Hills General Partnership. Acquisition of the property will occur early this fall. MEDCO will be the owner and operator of the club through a Joint Use Agreement with Calvert County, and will contract management services to a regionally recognized golf management firm. Chesapeake Hills is an 18-hole golf course consisting of 143.2 acres and will remain a public facility.

The Calvert County Board of County Commissioners (BOCC) requested that MEDCO consider acquiring the property for revitalization purposes. Early in their term, the BOCC investigated opportunities for a large-scale economic development project. Patuxent Business Park, located directly across from the golf club in Lusby, was unanimously selected by the BOCC last year as a primary economic development project. Development of that project is currently underway. The BOCC hopes that revitalization of the golf club will further enhance the park’s attractiveness and marketability, and promote the development of the Lusby Town Center.

Upon approval by the State of Maryland Board of Public Works and the Maryland Department of Natural Resources, Calvert will provide $800,000 of the County’s Project Open Space funds towards the property’s acquisition. MEDCO will finance the remaining portion of the sale.

"The golf course has been in a state of disrepair for some time now," said David Hale, president, BOCC. The Board asked MEDCO to acquire this facility to ensure the property’s revitalization, enhance the marketability of the new research and technology park directly across the street, and to remove the potential of 574 new housing units from the market. The County is extremely pleased that MEDCO agreed to this partnership."

"Chesapeake Hills has the potential to become a terrific public golf course in southern Calvert," said Hans F. Mayer, Executive Director, MEDCO. "The Commissioners vision and commitment to revitalizing that property is significant. We’re confident we can turn the course around and are pleased to provide this service for Calvert County."

Currently, there are over 50 public golf courses owned and operated by or for local governments throughout the State. MEDCO presently manages the County-owned Eisenhower Golf Course in Anne Arundel County and owns the Rocky Gap Lodge and Jack Nicklaus Signature Golf Course in Allegany County.

MEDCO was created by the Maryland General Assembly in 1984 as a not-for-profit development corporation, which, although created by state statute, is not supported by State appropriations nor are its employees government employees. MEDCO’s goal is to assist in the expansion, modernization, and retention of existing Maryland businesses; to attract business to the state, and to assist in the creation of new businesses. MEDCO fulfills its role by being developer, financier, and consultant on various projects throughout the State. MEDCO has participated in approximately 125 projects with a value in excess of $1.0 billion.

Sale price and management operation disclosure information will be provided after settlement occurs. For information, please contact the Calvert County Department of Economic Development, 410.535.4583 or 301.855.1880, via email cced@co.cal.md.us or the MEDCO, 410.625.0051.

For more information on the Calvert County, Maryland Department of Economic Development, our visitor sites and attractions and the services available to assist County businesses, call 410.535.4583, 800.331.9771 or 301.855.1880; or send an e-mail to info@ecalvert.com