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Crowd expected for hearing on Harbor Point's financing

Roman CatholicismChristianityBaltimore Development CorporationMorgan Stanley Dean Witter & CompanyStephanie Rawlings-Blake

Hundreds of people are planning to protest tonight against a city proposal to provide $107 million in tax increment financing to the Harbor Point development near Harbor East.

The protest will begin at 4 p.m. at City Hall before the 5 p.m. work session of the council's taxation committee, which could vote on the deal tonight.

Hundreds of clergy members, community activists and union workers plan to rally, according to a news release from the activists.

“In its current form the Harbor Point Project is not a good deal for Baltimore,” said Father Joe Muth, pastor of St. Matthew and Blessed Sacrament Roman Catholic Churches. “We are all coming together in an effort to protect the interests of Baltimore’s workers, unemployed, underemployed and neighborhoods.”

The Harbor Point development is the planned home of Exelon's new regional headquarters, a Morgan Stanley facility and other office buildings, residential towers, stores and a hotel.

Currently, the site is assessed at $10 million, but the Baltimore Development Corporation projects it would be valued at $1.8 billion for tax purposes when developer Michael S. Beatty completes it.

Mayor Stephanie Rawlings-Blake has said the Harbor Point project would create thousands of jobs. In addition to the tax increment financing, the development is benefiting from more than $100 million in tax breaks.

Luke.Broadwater@baltsun.com

Twitter.com/lukebroadwater 

Copyright © 2014, The Baltimore Sun
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Roman CatholicismChristianityBaltimore Development CorporationMorgan Stanley Dean Witter & CompanyStephanie Rawlings-Blake
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