By: Nancy Lavin nlavin@newspost.com
Despite a few headwinds, plans to open a new Flying Dog Brewery facility near Frederick Municipal Airport are approaching takeoff.
Flying Dog Brewery intends to finalize a $2.55 million contract to purchase city-owned land for the brewery by the end of 2016, according to Bob Kresslein, an attorney with Offit Kurman representing the brewery in contract negotiations.
News of the pending settlement emerged in discussion Wednesday between city officials and brewery representatives regarding several contingencies in the original contract of sale. The Frederick Board of Aldermen signed off in September 2015 on the agreement to sell 31 acres of city-owned land off Bowmans Farm Road to Flying Dog.
The company has planned to open a $50 million, 150,000-square-foot brewery on the land.
The agreement remained under review for more than a year amid several contingencies the city required before going to settlement. Agreements to meet the contingencies — most related to the site’s proximity to the airport — were presented on Wednesday for the aldermen to review.
The original contract also outlined a series of conditions set forth by Flying Dog, including city approval of site plans and building permits. Although those contingencies have not been satisfied yet, the company has agreed to waive that requirement and move to settlement, Kresslein said.
Click here to read to full article on Frederick Newspost
ABOUT ROBERT KRESSLEIN
Robert J. Kresslein focuses his practice on commercial real estate lending, business planning, and commercial real estate transactions. Bob is Practice Group Leader of the Banking and Finance Group. He is former President of the Maryland Bar Foundation, and Trustee of Sheppard & Pratt Health Systems, Inc. Bob also serves as Treasurer of the Maryland Democratic Party.
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