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Municipal government

City Council votes in favor of Harbor Point tax financing deal

Baltimore City Council voted 11-3 on Monday night in favor of the city providing $107 million in tax increment financing for the Harbor Point development project.

Plans for Exelon's new HQ at Harbor Point.

Baltimore City Council voted 11-3 on Monday night in favor of the city providing $107 million in tax increment financing for the Harbor Point development project.
The city’s Board of Finance had unanimously approved the request for tax financing in May. That’s for what is being billed as another dense hub for business and innovation in the city, though controversy has come around what has been seen as a less than transparent debate about its merits.
Those three in opposition were Council members Carl Stokes, Sharon Green Middleton and Bill Henry, and Mary Pat Clarke abstained, citing her developer husband’s ties to the project.
According to the Baltimore Business Journal, “The bill now moves to third reader where it is expected to win final passage, clearing the way for Beatty Development to begin construction on a headquarters building for Exelon Corporation this fall.”
Read the full story at the Baltimore Business Journal.
For those who missed Monday night’s vote, watch the livestream, newly available from the City That Breeds blog, as Technically Baltimore reported Monday.

Companies: Baltimore City Council / City of Baltimore
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