Business

The Allegany Medical Marijuana Dispensary is under contract to be sold to the Canada-based TerrAscend Corp. in a deal totaling $11.7 million. A sales agreement has been signed by representatives of TerrAscend and George Merling, the current owner of the dispensary. Located at 100 Beall St. in Cumberland, the dispensary opened in December 2017 after being licensed by the Maryland Medical Marijuana Commission. Under terms of the agreement, TerrAscend will acquire 100% equity interest in the dispensary for $10 million in cash, in addition to acquiring the real estate for $1.7 million.

The long-awaited redevelopment of the former Bainbridge Naval Training Center in Cecil County got underway Thursday with a brief ceremony that marked the reopening of the site. Two massive e-commerce warehouses will soon begin development on spec as the first phase of the $300 million project gets going, said Reid Townsend, co-founder of MRP Industrial. The Baltimore-based developer is a partner in the project that sits about a mile off Interstate 95, adjacent to Hollywood Casino and the site of the up-and-coming 44-acre Great Wolf Lodge.

A New York judge has declined to order the Orioles-controlled television network to pay an additional $23 million into an escrow account while the network’s decadelong broadcast rights fees dispute with the Washington Nationals continues. The Nationals, in court papers, had requested that the Mid-Atlantic Sports Network add the money into an account already containing more than $105 million deposited by the network in 2019 pending its appeal of a decision in the case.

Sandlot, the popular outdoor bar along the water in Harbor Point, will be returning for the 2022 season after all, Beatty Development Group said Wednesday. Although 2021 was previously billed as the seasonal beach bar’s final season, Sandlot will be back with new operators and a slightly different location.

Some Baltimore area high school students celebrated on Wednesday after completing their final session of the Baltimore Ravens High School Leadership Institute. The program, hosted by the Ravens and T. Rowe Price, teaches Baltimore City and Baltimore County students, who are selected by their schools, how to become leaders and productive members of their communities.

Bank of America Corp. said it will make all of its plastic credit and debit cards from recycled material beginning next year. All of the cards, which will feature a recycling logo, will be manufactured using at least 80% recycled plastic, Bank of America said in a statement Thursday. The Charlotte, North Carolina-based company said it’s the first U.S.-based bank to make the change across all its debit and credit cards, with the transition intended to reduce greenhouse-gas emissions and energy and water use.

Alex Smith sat on the stage of Monarque, a swanky cabaret-style French restaurant, and talked about the vision his grandfather, John Paterakis Sr., had for Baltimore and the Harbor East neighborhood he built on the water’s edge. “He was somebody who believed in the city and believed in the region,” Smith said. “He just decided he was going to take the money he made in the baking business and build what’s here today. I admire him for that greatly. It’s our job to continue on the tradition.” Smith, founder and president of Atlas Restaurant Group, has 16 restaurants in the city and doesn’t plan to stop there.

The Maryland Food Bank has launched pilot programs targeting unemployment and underemployment, two of the leading causes of food insecurity, and increasing access to healthy, shelf-stable items, the organization said Tuesday. Using a grant from the group Feeding America, the Workforce Development Partnerships program connects Baltimore-area residents with social services and job training in industries such as IT and healthcare that “provide family-sustaining wages and are not at risk of automation,” the organization said.