MEDCO – National Park Service

The Maryland Economic Development Corporation (MEDCO) is a corporate body and an instrumentality of the State of Maryland that was created in 1984 by an act of the Maryland General Assembly. MEDCO’s purpose is to attract new business and to encourage expansion of existing businesses in Maryland through the development, expansion, and/or modernization of facilities.  In fulfilling these purposes, MEDCO owns and leases certain properties and makes loans to organizations that require financing to acquire or develop properties.

$10,000,000
Maryland Economic Development Corporation
Taxable Lease Revenue Bonds
(National Park Service Facility) Series 2020

Wye River Group Served as the Maryland Economic Development Corporation’s and the National Park Service’s Independent Financial Advisor for this Transaction.

Project Overview

The National Park Service (NPS) has requested that MEDCO develop and finance a property in the Town of Williamsport, Maryland for use by the NPS as a regional headquarters facility and in support of the operations of the Chesapeake and Ohio Canal National Park.

Financing Overview

The financing was structured as a taxable direct bank purchase by Fulton Bank, N.A. The loan matures in April, 2050 and principal will amortize monthly commencing in October, 2021.  The interest rate on the bond is 2.56% and is fixed for 20 years of the financing. The financing closed on April 21, 2020.

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