BALTIMORE-The Downtown Management Authority in a statement released today came out against a proposed $107-million tax incremental financing plan for the Harbor Point project.
The proposed Harbor Point TIF includes funds for new roads, a bridge, a waterfront promenade and more than $60 million in parks along the city’s waterfront. The DMA in its statement contends that similar public financing should be available to aid Baltimore’s CBD.
“The DMA Board would have less objection to the Harbor Point TIF if both Harbor Point and the DMA were authorized to adopt TIFs, or if both had to forego the TIF route and compete for general obligation funds as they became available,” the DMA Board states.
Meanwhile, the Downtown Partnership of Baltimore Inc. has issued a statement supporting the Harbor Point TIF. See story in the Baltimore Business Journal.