Port Covington | WYPR

Port Covington

Dominique Maria Bonessi

Baltimore officially submitted its proposal today to make Port Covington the site of Amazon’s second headquarters, or HQ2.

In an elaborate affair to say the least, the ceremony was complete with piano jazz and a multimedia production with the theme of “Why not Baltimore?”

Wikimedia Commons

Baltimore County is close to landing an Amazon distribution center, to be located at Sparrows Point in eastern Baltimore County.

No surprise: Port Covington TIF passes

Sep 19, 2016
P. Kenneth Burns

As expected, the Baltimore City Council passed Monday the largest tax financing package for a development in city history.

The 12-1-2 vote – for each bill - came after months of controversy over the size of the tax package and requirements for jobs, wages and housing.  The three-bill package creates the Port Covington development and taxing districts and authorizes $660 million in tax bonds to finance infrastructure work at the site.

The bonds would be repaid with property tax revenue generated by the profit.

Councilmen Bill Henry and Mary Pat Clarke abstained from voting on the package.  Councilman Warren Branch voted against the bills.

Final vote for Port Covington TIF set

Sep 12, 2016
P. Kenneth Burns

The Baltimore City Council gave preliminary approval Monday to a tax financing package for the proposed Port Covington development project.  The package is expected to pass a final vote at the council’s next meeting Sept. 19.

But Monday’s vote didn’t come before some members said they were concerned about how one of the bills – authorizing $660 million in tax bonds – was moved out of committee and to the full council.

Port Covington bond bill petitioned to full city council

Sep 12, 2016
P. Kenneth Burns

The Baltimore City Council will get a look Monday at all three bills that are part of the largest tax financing package for a development project in city history.  That’s because Councilman Eric Costello led efforts to wrest the bill authorizing bonds for the Port Covington project out of its committee.

Port Covington tax financing hits snag

Sep 8, 2016
P. Kenneth Burns

A Baltimore City Council committee voted Thursday night to send two bills to the full city council as part of a tax financing package for the Port Covington project.

The first bill designates the development district while the other creates the tax district for the South Baltimore project. The vote on the third bill to authorize $660 million in tax bonds did not take place.

That’s because Councilman Carl Stokes, the committee chair, wanted to give interested parties time for further review. He ended the meeting without calling for a vote on the bond measure.

Mayor says Port Covington not a rush job

Aug 1, 2016
Sagamore Development

Mayor Stephanie Rawlings Blake took issue Monday with those who say the city is rushing to approve the $5.5 billion Port Covington project. The mayor disagreed with critics who charge the proposal has not been thoroughly studied.

Is Port Covington's price worth the promise?

Jul 27, 2016
Sagamore Development

  Under Armour CEO Kevin Plank’s plan to develop Port Covington holds out the promise of jobs, affordable homes and millions in revenue for Baltimore City. Some people are excited about what’s to come, while others are wary about whether those promises can be kept, and if those promises are for them.

Sagamore Development

The $5.5 billion Port Covington project moves to the city council this week and is on track to be approved before a new mayor and council take office later this year. But the new leadership will have to deal with the decisions the old guard makes over the next few weeks.

Sagamore Development

Opponents of Under Armour CEO Kevin Plank’s plan to develop Port Covington say it is built on faulty numbers. They laid out their case Monday night to explain why they want the city to put the brakes on the South Baltimore development so it can be studied further.

Rachel Baye

The company behind the planned Port Covington development announced Thursday a multi-million-dollar arrangement with six nearby neighborhoods in South Baltimore.

Baltimore City’s Planning Commission is to take up later today Under Armour CEO Kevin Plank’s controversial proposal to develop 160 acres of Port Covington, a massive $5.5 billion project that relies heavily on city financing. The deal is so complicated that even officials who are studying it can’t agree if the city is about to give Sagamore, Kevin Plank’s private development company, a huge tax break or not.

John Lee

    

A community organization wants the Baltimore City Council to put the brakes on the multi-billion dollar Port Covington project. Baltimore United in Leadership Development, or BUILD, called Tuesday for an independent financial analysis to be completed first. 

Courtesy of @port_covington / Twitter

Billionaire Under Armour CEO Kevin Plank is asking Baltimore City for $535 million to help fund redevelopment in Port Covington. The city would borrow against future property tax revenue to pay for streets, utilities, and other infrastructure related to the project. If approved, it would be the largest tax increment financing, or TIF, deal in city history. TIF is a common development tool across the country; the city of Baltimore has OK’d eleven deals since 2003. But tax increment financing is controversial. Supporters say it attracts private investment to blighted areas. Critics say it enriches developers at public expense. Our guests: Greg LeRoy, Executive Director of Good Jobs First, and Toby Rittner, President and CEO of the Council of Development Finance Agencies