The State of Maryland has agreed to pay $58.5 million to settle a lawsuit surrounding the stalled State Center project in Baltimore. This settlement ends a decade-long legal battle between the state and the project developers, who accused Maryland of breach of contract.
The State Center project was originally envisioned as a massive redevelopment of a government office complex in Baltimore, with plans for new office space, retail, and residential buildings. However, the project has been stalled for years due to legal and financial issues.
The $58.5 million settlement will be split between the developers of the project, who will receive $33 million, and the various contractors and subcontractors involved in the project, who will receive the remainder of the funds. The settlement also includes an agreement from the state to release the developers from any further liability related to the project.
Governor Larry Hogan has stated that the settlement is a positive step towards resolving the long-standing issues surrounding the State Center project. He has also expressed a desire to move forward with a new plan for the site that will benefit the city and its residents.
The settlement comes as a relief to both the developers and the state, who have been embroiled in legal battles over the project for years. With the agreement in place, the focus can now shift towards finding a new path forward for the State Center site and revitalizing the area.
Overall, the $58.5 million settlement marks a significant step towards resolving the issues surrounding the State Center project and moving towards a brighter future for the site and the city of Baltimore.
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