22-0231

Bond Issue - Community and Economic Development Loan - $36,000,000

For the purpose of authorizing the Mayor and City Council of Baltimore

(pursuant to General Assembly House Resolution III and Senate Resolution

III of 2022 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 THIRTY-SIX Million Dollars ($36,000,000.00) 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

commercial purposes and the payment of any and all costs and expenses

incurred for, or in connection with, doing any or all of the things herein

mentioned, including, but not limited to, the costs and expenses of securing

administrative, appraisal, economic analysis, engineering, planning,

designing, architectural, surveying, and other professional services; and for

doing any and all things necessary, proper, or expedient in connection with

or pertaining to any or all of the matters or things hereinbefore mentioned;

all such land or property shall be acquired, developed, redeveloped,

renovated, rehabilitated, altered, improved, held or disposed of, as

provided by law; authorizing the issuance of refunding bonds; conferring

and imposing upon the Board of Finance of Baltimore City certain powers

and duties; authorizing the submission of this Ordinance to the legal voters

of the City of Baltimore, for their approval or disapproval, at the General

Election to be held in Baltimore City, on Tuesday, the 8th day of November,

2022; and providing for the expenditure of the proceeds of sale of said

certificates of indebtedness in accordance with the provisions of the

Charter of the Mayor and City Council of Baltimore, and by the municipal

agency designated in the annual Ordinance of Estimates of the Mayor and

City Council of Baltimore.

Sponsors:

City Council President (Administration)

ADJOURNMENT

THIS MEETING IS OPEN TO THE PUBLIC