Baltimore Mayor Brandon Scott unveiled a comprehensive 10-year financial plan designed to generate $2.5 billion in savings and invest $1 billion in infrastructure improvements by 2035.
The plan includes significant investments in upgrading the city's convention center and reducing the number of vacant buildings throughout Baltimore.
One key proposal aims to bring the homeowner property tax rate below 2 dollars per $100 of assessed value by 2029.
Scott emphasized the urgency of implementing the financial strategy to prevent future fiscal challenges.
"The math is clear, if we don't take action now, we are looking at a $1 billion deficit in the next 10 years," Scott said.
The mayor described the plan as based on a conservative economic outlook and designed to prevent passing financial problems to future administrations.
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