The Route 40 West corridor, known as the Golden Mile, is a vital gateway of the City of Frederick. The area suffered the loss of key retailers due corporate bankruptcy, and the perception of decline in this area made it difficult to attract new retailers to the area. As a result, the City of Frederick formed a task force in 2001 to address these concerns. Though many businesses continued to thrive, further decline was on the horizon without a proactive approach to this issue. The task force looked at the root causes, and searched for ways to promote reinvestment and revitalization along the Golden Mile corridor.
The Golden Mile Commercial Property Tax Credit Program was initiated as a result of the efforts of the Golden Mile Task Force. This program is designed to incentivize the rehabilitation of commercial buildings. Within 18 months, the area saw more than $20 million in private investment.
Further, the city’s Planning Department launched the Golden Mile Small Area Plan initiative with input from area property owners and businesses.
For more information on the Golden Mile task force, the Golden Mile Commercial Property Tax Credit Program, and the Small Area Plan, please visit www.cityoffrederick.com.
The Golden Mile Alliance began as the ad-hoc Golden Mile Alliance Organizing Committee whose members were appointed by Mayor Randy McClement effective September 13, 2011. The Mayor and Board of Aldermen designated it Department of Economic Development and Planning Department staff to provide support to the committee and “start up” funding. The purpose was to transition the Committee into a separate not for profit Maryland corporation that would apply for IRS Section 501(c)(3) tax exempt status. The Articles and Bylaws of the corporation were approved by the members in November, 2011, officers were elected, committees were established, a Conflict of Interest policy was adopted and the Golden Mile Alliance, Inc. was incorporated with the State of Maryland on February 16, 2012.
A 501(c)(3) application was filed with the Internal Revenue Service in December 2012 and is still pending.
On June 7, 2012, the Golden Mile Alliance entered into a Memorandum of Understanding with the City of Frederick establishing an understanding of work responsibilities, lines of communication and functional organization between the parties and recognizing the Golden Mile Alliance as a partner with the City in the revitalization of the Golden Mile.
A grass roots effort of Golden Mile businesses, residents and property owners, the Alliance continues the revitalization efforts initiated by the City of Frederick to promote the Golden Mile as a vibrant and safe economic and residential gateway community.