As reported extensively in The Brew, the second series of tax increment (TIF) bonds for Harbor Point – which are triple the size of the original amount presented to the city – easily passed its final hurdle at the Board of Estimates today.
The single surprise was a “no” vote by Comptroller Joan Pratt over the $39 million bond issuance.
She said she was dissatisfied with the contract negotiated with developer Michael Beatty over profit sharing (which she says is insufficient for the city) and cap rates.
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