Port Covington $535 million TIF request gets 'concept approval' from city finance board

Baltimore’s Board of Finance gave a “concept approval” for a $535 million request for tax increment financing by Sagamore Development Co. to pay for a portion of infrastructure at its planned 266-acre Port Covington development. The board voted Monday afternoon at City Hall following a presentation on a 534-page TIF application and analysis that lasted about 45 minutes and included no public input. The TIF is too large for the city’s debt limit, said Steve Kraus, deputy finance director for the…

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