* 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 R
(Resolution)
Introduced by: The Council President
At the request of: The Administration (Baltimore Development Corporation)
A RESOLUTION ENTITLED
A COUNCIL RESOLUTION concerning
Title
Approving the Submission of an Application to the State of Maryland for the Creation of a BRAC Zone to Include the Westport Redevelopment Area
FOR the purpose of approving the submission of an application to the State of Maryland for the creation of a BRAC Zone to include the Westport redevelopment area.
Body
WHEREAS, The City Council of Baltimore recognizes that there is a significant need to stimulate investment in the Westport redevelopment area; and
WHEREAS, The City of Baltimore and representatives of Westport and the surrounding neighborhoods have been working towards this end; and
WHEREAS, The General Assembly of the State of Maryland established a BRAC Zone to allow use of the State real property tax increment on the infrastructure investments through bonds, such as Tax Increment Financing bonds, in a designated growth area to service Maryland's military installations; and
WHEREAS, The City of Baltimore, through the Baltimore Development Corporation, has prepared an application for a BRAC Zone that includes the Westport Waterfront development area, defined as the contiguous area consisting of the properties designated as Ward 25, Section 05, Block 7611, Lot 001 and Block 7612, Lots 001, 003, 005, 005A, and 006 (as they may be renumbered or redesignated as a result of any resubdivision of such property) together with the adjoining roads, highways, alleys, right-of-way, and other similar property; and
WHEREAS, The City of Baltimore elects to no longer provide Real Property Enterprise Zone credits to commercial properties within the Westport redevelopment area; and
WHEREAS, The regulations of the BRAC Zone require the written expression of sentiment of the Baltimore City Council.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF BALTIMORE, That the City Council of Baltimore:
1. Hereby endorses the application of the City for the Westport BRAC Zone and the exclusion of Real Property Enterprise Zone benefits within its boundaries.
2. Resolves that copies of this Resolution be sent to the Secretary of the Department of Business and Economic Development, State of Maryland.
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