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.
On the decision of signing the new leased President of the National Sailing Hall of Fame’s Board of Directors and the residence of Annapolis said, “The decision of the board of director is good and we all are very happy to hear it. In the city dock, the museum will become a wonderful anchor.”
In a recently held meeting, the Treasurer Nancy K. Kopp drifted the annual report’s conditions. On which Comptroller of Maryland Peter Franchot supported the conditions of Kopp’s conditions and showed his excitement for the plan of the museum. The Maryland board unanimously fixed the lease.
The step for the renewal of the lease has been welcomed by many, and at the same time, many people from the sailing world are not happy with the move. However, it is very certain that this move of NSHF is in favor of development of the museum. The NSHF is struggling to get enough funds for better maintenance and development of museum for long.