A BCPSS Board Member Responds to us

To All New Song Advocate:

First of all, thank you for sending me multiple emails expressing your concern for the funding challenges that threaten to impact your programs at New Song Academy. As a member of the Baltimore City Board of School Commissioners, rest assured that the entire Board and School System are committed to providing all students in the Baltimore City Public School System - including ours at New Song Academy - with an excellent education.

When I first received your letters and emails, I asked, "What changed?" As I understand the matter, New Song Academy had received funding in prior years from The Rouse Company. This funding was either drastically reduced or eliminated after General Growth Properties bought The Rouse Company, headquartered in Columbia, Maryland, in Q4 2004.

General Growth Properties (www.generalgrowth.com) , a New York Stock Exchange listed real estate investment trust or "REIT," was founded in 1954 in Cedar Rapids, Iowa, but is now based in Chicago. The Rouse Company purchase added 37 more regional shopping centers to the 200 General Growth already owned. This REIT now has a market value of $35 billion.

Understanding these facts, I thought of a potential solution.

Seems to me that if the problem is replacing the funds once supplied by The Rouse Company, the target of the derision should be the $35 billion REIT not the $1 billion, chronically under-funded urban school district. I suggest that advocates of New Song Academy, including The Sun, launch a full scale lobbying program focused on General Growth Properties. Perhaps advocates could attend the next shareholders meeting [May 10, 2006] after kicking off a letter/email writing campaign to convince General Growth Properties to change its mind. Public companies don't like to be seen a penurious in the eyes of shareholders, rating agencies and politicians. One never knows when Harbor Place, the Galleria or the Village of Cross Keys may need some zoning help or an expedited building permit.

Driving to work this morning, my memory was jogged as I eased down Gwynns Falls Parkway past Mondawmin Mall. General Growth Properties owns Mondawmin Mall. As a matter of fact, Mondawmin Mall figured prominently in the acquisition of The Rouse Company by General Growth due to its unrealized potential redevelopment opportunities. Mondawmin, built in 1956 is fifty years old this year. And while some members of the neighborhood were saddened by the loss of Sears, The Rouse Company didn't weep because they repositioned the mall with merchants aimed at urban consumers. This repositioning created a cash engine for The Rouse Company that catapulted Mondawmin into the ranks of the highest sales per square foot of any Rouse mall in the region.

Returning to a strategy for New Song Academy. General Growth Properties recently presented a plan to the Baltimore City Planning Department for redeveloping Mondawmin Mall, including restaurants on pads sites similar to those at Hunt Valley Towne Center and Reisterstown Road Plaza. I understand the plan also calls for relocating the MVA and constructing a 50,000 square foot grocery store. These are great plans that will benefit many neighborhoods in West Baltimore, including the families of New Song Academy.

Here's are my proposed Next Steps:

1. Schedule a community meeting with a senior representative of General Growth Properties, not just the mall manager. The message to General Growth Properties should be you can not be just a "taker" in our community. You must contribute, and this is how.

2. Call the Mayor, City Counsel members and Otis Rolley, Director of Planning, to state clearly that you expect their support in regaining funding from the successor in interest to The Rouse Company.

3. Contact the merchants at Mondawmin Mall and request their support in exchange for your patronage.

4. Contact your state representatives and tell them not to renew its lease for the MVA office at Mondawmin Mall unless and until your funding request is given fair consideration.

4. Finally, inundate the CEO, senior executives and board members of General Growth Properties with letters stating your concerns and requests. Let them know that Mondawmin Mall is in your community and that you expect a $35 billion dollar REIT to be a good corporate citizen, especially during a period when General Growth Properties is seeking approval from Baltimore City to redevelop Mondawmin Mall.

If my understanding of the question "Why the sudden need for funding now?" is misguided, please let me know. If I am generally correct, I have many more ideas to bring pressure on a publicly traded company with assets in our jurisdiction. [Think about the fortuitous timing of (a) Constellation wishing to merge with Florida Power and Light, (b) BGE announcing a 72% rate hike for this summer and (c) the Maryland legislature being in session!!]

Douglas R. Kington

Principal
Kington Commercial, LLC
301 North Charles Street, Suite 702
Baltimore, Maryland 21201-4330



(410) 547-0515 phone
(410) 547-0516 fax
(443) 604-8898 Balto. cell
doug@kingtoncommercial.com
www.kingtoncommerical.com