Explanation: Capitals indicate matter added to existing law.
[Brackets] indicate matter deleted from existing law.
* Warning: This is an unofficial, introductory copy of the bill.
The official copy considered by the City Council is the first reader copy.
Introductory*
City of Baltimore
Council Bill
Introduced by: Councilmember Ramos
A Bill Entitled
An Ordinance concerning
title
Study and Report - Tax Increment Financing
For the purpose of requiring the Director of Finance, the City Administrator, the City Solicitor, the Commissioner for the Department of Housing and Community Development, and the Director of the Office of Equity and Civil Rights to submit a report, in collaboration with advocates, practitioners, and residents, that details how Tax Increment Financing can be used for community development and eliminating vacant and abandoned properties; and providing for a special effective date.
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Section 1. Be it ordained by the Mayor and City Council of Baltimore, That:
(a) No later than 90 days after enactment of this Ordinance, the Director of Finance, the City Administrator, the City Solicitor, the Commissioner for the Department of Housing and Community Development, and the Director of the Office of Equity and Civil Rights shall submit a report, in collaboration with advocates, practitioners, and residents, about the public financing tool known as Tax Increment Financing (“TIF”).
(b) Prior to the report’s final submission to the City Council a public notice shall be published containing report and seeking public comment for at least 30 days .
(c) The report shall include:
(i) A description of TIF, including:
(1) a review of State enabling legislation;
(2) a review of Baltimore City’s TIF law;
(3) historic and current utilization of TIF in the City, including a map of
where TIF districts are located within the City; and
(4) a detailed account of City spending on TIF debt service by project.
(ii) The impact of TIF on Baltimore City, including:
(1) the impact on City revenues;
(2) the impact on economic development surrounding development districts
and special taxing districts established to facilitate TIF; and
(3) an examination of how to use TIF to eliminate vacant and abandoned properties.
(iii) An in depth discussion of how to improve the effectiveness of TIF, including the
consideration of the following novel TIF concepts:
(1) non-Contiguous TIF;
(2) clustering;
(3) removal of taxing districts;
(4) neighborhood TIF only policies; and
(5) other policy changes that require regulatory or legislative action.
(iv) A review of those public comments collected during the 30-day public comment
period required under § 1(b) of this Ordinance.
(d) The City Council shall call a hearing where the Director of Finance, the City Administrator, the City Solicitor, the Commissioner for the Department of Housing and Community Development, and the Director of the Office of Equity and Civil Rights shall present the findings and the recommendations of the report.
Section 2. And be it further ordained, That this Ordinance takes effect on the day it is enacted.