Baltimore City Council committee OKs taxpayer assistance for $1.8 billion Harbor Point mixed-use project

A Baltimore City Council committee approved a plan to give millions in taxpayer assistance to the $1.8 billion Harbor Point development.

August 19, 2013 |

A Baltimore City Council committee approved a plan to give millions in taxpayer assistance to the $1.8 billion Harbor Point development. The controversial vote came after opponents criticized developer Michael S. Beatty’s plans for the 27-acre waterfront site—which will be home to energy giant Exelon's new regional headquarters. Local ministers alleged that the $107 million in city financing would harm schoolchildren by holding down tax revenue. The legislation calls for $107 million in tax increment financing bonds to pay for infrastructure, parks and other site improvements.

(http://www.baltimoresun.com/news/maryland/baltimore-city/bs-md-ci-harbor-point-committee-20130807,0,6407337.story)

 

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