Baltimore Department of Finance officials were forced to send a “special tax” bill of $1.2 million to East Baltimore Development Inc. in March in order to meet the scheduled payment on tax increment financing bonds sold to partially fund the $1.8 billion redevelopment of Middle East.Read More »
ANNAPOLIS — Local governments could pay for more projects by borrowing money against future expected increases in tax revenue under legislation passed by a 114-21 vote by the House of Delegates on Saturday. House Bill 613 would expand the tax ...Read More »
Legislation to expand the use of tax increment financing in certain growth areas of the state is expected to be introduced in the General Assembly next week, according to Jon Laria, chair of the Maryland Sustainable Growth Commission. During a ...
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A city task force examining taxpayer incentives to developers is recommending new criteria for the awards, including profit sharing on all projects, independent monitors and possible use of such inducements to help rebuild Baltimore’s middle class. During a hearing at ...
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Baltimore finance officials have drained nearly half a million dollars from a special account to help cover the $1.4 million repayment due this month on $78 million in tax increment financing bonds issued for the struggling East Baltimore Development Inc. ...Read More »
City officials this month will send out $652,000 in special tax bills for tax increment financing bond repayments because property taxes collected from three prominent city developments were not enough to reimburse investors. The Clipper Mill, Belvedere Square and Mondawmin ...Read More »
Property taxes at the chic Clipper Mill development near Hampden will not generate enough money to cover an upcoming bond repayment, and Baltimore officials say more payments are needed from developers and possibly property owners to make up the difference. ...Read More »
ANNAPOLIS — New recommendations for the use of tax increment financing may be forthcoming as a state growth commission studies funding priorities for development, the commission chairman said Thursday. Jon Laria, an attorney with Ballard Spahr and head of the ...Read More »
The task force studying the need for public subsidies to private developers in Baltimore started to get to the heart of the matter this week — disclosure and accountability. The group spent nearly two hours debating how financing tools like ...Read More »