1988

LAWS OF MARYLAND

Ch. 707

half mile radius of the complex for
employment at the complex; and

(IV) The State and the seller of the
property shall negotiate the price in
accordance with the terms of the lease
dated December 3, 1976, but the price

of acquisition shall not exceed

2,900,000. In the absence of any
court order barring or enjoining the
purchase of the property, the purchase
shall be consummated by October 1,

1977, and the State shall be

prohibited from making any further
payments under the terns of the lease
dated December 3, 1976 after October
1, 1977. After acquisition, the State

shall construct the improvements

necessary to convert the site to a

correctional complex, and may not

lease the site to any other person for
the purpose of having that person

making the improvements. ---At the date

the purchase is consummated, Second

Biddle Associates and any affiliates,
shall provide the Board of Public
Works with a complete and detailed
economic analysis of the financial
benefits received or anticipatod to be
received from the lease and the sale
of the property at 3500 East Biddle

Street. If Second Biddle Associates

and any affiliates, participate in any
future transactions with the State of
Maryland involving the property at
3500 East Biddle Street a detailed

economic analysis of financial

benefits received from such

transactions shall be furnished to the

Board of Public Works every six

months.] and demolition of the
existing structure(s) thereon
(Baltimore City)..26,000,000 5,000,000

On [the date on which the Board of
Public Works shall certify that the
condition contained in section 1.(3)
of the Act authorizing the
Correctional Complex - Fort Armistead
Loan of 1978 (H. B. 2173 or S. B. 1303)
has been satisfied] JUNE 1, 1979, the
Board of Public Works shall revert to
the Annuity Bond Fund so much of the
appropriation for the Biddle Street
project as is then unexpended and
uncommitted, and if the State sells or
transfers the property at 3500 East