Hearing in Baltimore on Port Covington development

Posted at 8:46 AM, Aug 03, 2016
and last updated 2016-08-04 06:44:08-04
The City Council hosted the second public meeting on Port Covington Wednesday.
The primary issue was financing for part of the Port Covington deal by Sagamore Development. The company is asking for $535 million to help build some of the infrastructure. It's not a tax break, but rather a bond taken out by the city and paid back by the developer.
Some believe the deal doesn't benefit Baltimore.
A work session is scheduled next week to discuss a possible deal. If approved, it will be voted on by the Taxation, Finance and Economic Development Committee for the entire City Council's approval.
A hearing is scheduled on the Port Covington Development District.

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