State agency could sell, hold up to $535 million in TIF bonds for Kevin Plank's Port Covington

As a way to ease the debt burden on cash-strapped Baltimore, city finance leaders are considering asking the state to serve as a “conduit issuer” for $535 million in bonds to help build Port Covington under a plan by Under Armour CEO Kevin Plank’s Sagamore Development Co. The request would be made to the quasi-public Maryland Economic Development Corp. this spring to sell and hold up to $535 million in tax increment financing bonds for the massive Port Covington development. It is the latest move…

from http://www.bizjournals.com/baltimore/blog/real-estate/2016/04/state-agency-could-sell-hold-up-to-535-million-in.html?ana=RSS%26s=article_search
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