BALTIMORE-The city's Board of Finance is scheduled to vote today on whether to issue $35 million in bonds for the $1.8-billion Harbor Point development project.
The $35 million in financing could be available for developer Michael S. Beatty's Harbor Point Development Group LLC by January if the Board of Finance green lights the bonding, says Kevin Harris, a spokesman for Baltimore Mayor Stephanie Rawlings-Blake. Beatty has said he plans to buy the initial offering of city-issued bonds for the project and use the proceeds to pay for a construction loan, according to the Baltimore Sun.
The $35 million in bonding would be part of what will eventually be $107 million in bond financing for the project that has been approved by the Baltimore City Council. See story in the Baltimore Sun.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
