Bond Issue - Community and Economic Development Loan - $50,000,000
For the purpose of authorizing the Mayor and City Council of Baltimore
(pursuant to General Assembly House Resolution III and Senate Resolution
III of 2024 approved by the members of the Maryland General Assembly
representing Baltimore City) to create a debt, and to issue and sell its
certificates of indebtedness as evidence thereof, and proceeds not
exceeding FIFTY Million Dollars ($50,000,000.00) from the sale of such
certificates of indebtedness to be used for the cost of issuance, including
the expense of engraving, printing, advertising, attorneys’ fees, and all
other incidental expenses connected therewith (which may include the
proportion of the compensation of employees and general administrative
expenses of the Department of Finance reasonably allocated to the
issuance of the bonds); and the remainder of such proceeds to be used for
or in connection with planning, developing, executing, and making
operative the community, commercial and industrial economic
development programs of the Mayor and City Council of Baltimore,
including, but not limited to, the acquisition, by purchase, lease,
condemnation or any other legal means, of land or property, or any right,
interest, franchise, easement or privilege therein, in the City of Baltimore;
the payment of any and all costs and expenses incurred in connection with
or incidental to the acquisition and management of said land or property,
including any and all rights or interest therein hereinbefore mentioned; the
payment of any and all costs and expenses incurred for or in connection
with relocating and moving persons or other legal entities displaced by the
acquisition of said land or property, or any of the rights or interest therein
hereinbefore mentioned; the development or redevelopment, including, but
not limited to, the comprehensive renovation or rehabilitation of any land or
property, or any rights or interests therein hereinbefore mentioned, in the
City of Baltimore; and the disposition of land and property for such
purposes; the elimination of unhealthful, unsanitary, or unsafe conditions,
lessening density, eliminating obsolete or other uses detrimental to the
public welfare or otherwise removing or preventing the spread of blight or
deterioration in the City of Baltimore; building from strength; stabilizing
middle neighborhoods, strengthening neighborhood retail corridors, the
creation of healthy, sanitary, and safe, and green conditions in the City of
Baltimore; the demolition, removal, relocation, renovation or alteration of
land, buildings, streets, highways, alleys, utilities or services, and other
structures or improvements and for the construction, reconstruction ,
installation, relocation or repair of buildings, streets, highways, alleys,
utilities or services, and other structures or improvements; making loans
and grants to various projects and programs related to growing businesses
in the City; attracting and retaining jobs; providing homeownership
incentives and home repair assistance; making loans and grants to various
projects and programs related to improving the cultural life and promotion
of tourism in Baltimore City; and the lending or granting of funds to any
person or other legal entity to be used for or in connection with the
rehabilitation, renovation, redevelopment, improvement or construction of
buildings and structures to be used or occupied for residential or