BALTIMORE-The city of Baltimore and Beatty Development LLC have reached an agreement on minority participation in the construction of the 3-million-square-foot Harbor Point project.
As the City Council prepares to hold hearings on a proposal to provide $107 million worth of tax incremental financing for the project, the city and Beatty agreed to a strategy that will go beyond the 25% minority and 12% women-owned businesses thresholds for typical city-financed projects, according to the Baltimore Business Journal.
Sharon Pinder, director of the Mayor's Office of Minority and Women-Owned Business Development, says the agreement requires Beatty to break down large contracts to draw smaller firms; seek out minority and women-owned businesses as tenants at the project; and launch a new mentoring program for small businesses.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
