Get a break, give city cut of profits

The idea of profit sharing between the city and wealthy developers when public tax breaks are involved has been the topic of much debate in Baltimore for years.

One comment

  1. Raise your hand if you see what this loophole will bring……that’s right, this gives the incentive for the developer to sell the project to a shell company just as it is gaining revenue. Can you image 12 underserved families in an area where the entire real estate is affluent. How do you choose 12 families? Why would you not designate an entire building to underserved as keeping with the requirement of multi-income housing for receiving business tax breaks? It looks to me that Carl Stokes has actually written away requirements rather than making them better!