Ventures Summer 2017 - Page 10

17 Years in the Works: University Acquires Rosewood Property The sale of the former Rosewood Center property in concern of the surrounding community and the District Owings Mills to Stevenson University was approved 11 delegation for many years. Stevenson first expressed by Maryland’s Board of Public Works during its June 7 interest in acquiring the property in 2000 and conducted meeting in Annapolis. Stevenson, per the sales agreement, an environmental survey of the site in 2009-2010. will use State grants totaling $16 million to complete “I would like to thank the Board of Public Works and the the environmental abatement and remediation of the State of Maryland for their support and patience through Rosewood site before the State transfers the final deed to this lengthy but incredibly important process,” says Tim the property. 8 | Campbell, Executive Vice President for Financial Affair Maryland’s Department of Health and Mental Hygiene and Chief Financial Officer for Stevenson. “Throughout the closed Rosewood in 2009 and declared the property years, the State has been an integral part of the success of surplus in 2010 after it had served as a state mental health Stevenson University, supporting many of our expansion facility since 1888. The vacant buildings and possible and construction projects, and now the acquisition and environmental contaminants on the site had been the improvement of the Rosewood property.” VENTURES/SUMMER 2017