A Maryland mayor is seeking a $102 million subsidy for a nearly $890 million redevelopment project that will include overhauling a public housing complex
BALTIMORE (AP) — A Maryland mayor is seeking a $102 million subsidy for a nearly $890 million redevelopment project that will include overhauling a public housing complex.
The Baltimore Sun reported Tuesday that Mayor Catherine Pugh’s administration is seeking the funding for a project in East Baltimore called the Perkins Transformation Project. The developer of the project plans to build 650 low-income homes to replace the ones at Perkins Homes, as well as 475 subsidized and 500 market-rate houses.
The city’s board of finance gave preliminary approval this week for a tax increment financing district to pay for area roads, parks and a school. But it could face opposition. Spokesman Lester Davis says Council President Bernard C. Young wants the city to cap tax increment financing for the project at $75 million.
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Information from: The Baltimore Sun, http://www.baltimoresun.com