After all the fanfare and political pressure last year to get $660 million worth of tax incentives approved by a lame-duck City Council, the Port Covington project is far behind schedule and is not expected to break ground until 2018.

Kevin Plank’s private real estate arm, Sagamore Development Co., is searching for equity partners, informed sources tell The Brew, and has not submitted any financial data to the city that could start the process of approving TIF (tax increment financing) bonds.

A spokeswoman for William H. Cole, president of the Baltimore Development Corp. (BDC), confirmed that “currently there is no timetable for the bond issuance.” Another city official, who asked for anonymity, added that the project’s start date has been “pushed out nine months to a year.”

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