* 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: Councilmembers Henry, Clarke, Reisinger, and Middleton
A Resolution Entitled
A Council Resolution concerning
title
Oversight Hearing - Private Development Incentives
For the purpose of requesting that the Baltimore Development Corporation (BDC), the Department of Finance, and other City agencies involved in offering incentives to spur private sector development report to the Council on the current and planned uses of these incentives, how these incentives can be used more equitably in the future, and options to improve transparency and accountability to Baltimore’s citizens in how incentives are awarded.
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Recitals
In recent years Baltimore has made use of a variety of incentives to attempt to spur private sector development in our City. While these efforts have undoubtedly spurred some development, they have not been without controversy and it is not clear which approaches have been most successful and which may be falling short.
In order to properly assess the City’s incentive strategies, the Council needs a thorough briefing from the relevant City agencies on what has been done to date including:
· a comprehensive and detailed account of existing incentives awarded in the City’s private development portfolio;
· information about the nature of each project’s specific incentives in revenue awarded/delayed/foregone; and
· the specific returns negotiated by and for the City’s fiscal benefit in return for these in...
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