The lease of the National Sailing Hall of Fame (NSHF) has been extended by the The Maryland Board of Public Works for another three-year.
But, the decision has been taken with a condition, according to the condition; NSHF has to file an annual report once in a year to the board. The report will update MBPW about the fund that has been raised by NSHF.
With the extended lease, MBPW has granted the Sailing Hall of Fame three years more to raise the fund of $9.5 million that will be used for the property’s redevelopment. The state has a lease with the museum pledging to construct the building of 12,000-square-foot. With the extension, the NSHF has lost the lease with the state and this has scaled back the project to about 7,000 sq. ft. Continue reading