BALTIMORE-Debate over a controversial proposal to provide $107 million in tax incremental financing for the $1-billion Harbor Point waterfront development has been extended into next month by the City Council.
A public hearing was held on Wednesday that featured supporters and detractors of the tax proposal. City Councilman Carl Stokes announced that the hearing would be extended into August, according to the Baltimore Business Journal.
The first phase of the project would include a 23-story tower for Exelon Corp.'s regional headquarters. Developer Beatty Development has stated the development, as a whole, would not move forward without the tax deal, the newspaper reports.
While there is opposition to the tax deal, City Council President Bernard C. “Jack” Young said Wednesday he strongly supports the plan based on the thousands of jobs the project would create.
“I support it 199% and I'm going to do everything in my power to make sure it passes,” Young said. See story in the Baltimore Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
