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.