City officials and the Port Covington developer crowed last week about how, after days of negotiations with the group BUILD, they had toughened up an April Memorandum of Understanding linked to the project’s unprecedented subsidy.
The updated MOU was not final and an approved version still had not been released officially last night, when the City Council gave preliminary approval to the $660 million TIF Tax Increment Financing deal.
Councilman Carl Stokes acknowledged that he and other Council colleagues hadn’t fully read the whole 38-page document – meant to ensure citizens benefit from the publicly-financed, 260-acre mixed-use water development on the South shore of Baltimore.
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