"That's a problem," he said. "Harbor Point wants another hundred million dollars. Why? What sense does that make? ... It's greed. That's all it is, unfortunately: greed."

A conservative think tank, the Maryland Public Policy Institute, quickly praised the mayor's plans in a news release.

"We commend Mayor Rawlings-Blake for shining a light on Baltimore's long-festering problems of high taxation and unsustainable entitlement spending," said Christopher B. Summers, president of the institute. "By calling for meaningful property tax relief and pension modernization, the mayor is moving Baltimore toward a future of fiscal solvency and economic renewal."

Rawlings-Blake's speech was well-attended by high-ranking city and state officials, including Lt. Gov. Anthony Brown and state Attorney General Douglas Gansler, both regarded as candidates for governor in 2014.

The address was Rawlings-Blake's fourth "State of the City" speech since becoming mayor in February 2010. She has consistently used the platform to focus on plans to fix Baltimore's financial and infrastructure woes. Last year, the mayor emphasized her goal to grow Baltimore by 10,000 families, along with proposals to increase the city bottle tax and to borrow to upgrade school facilities.

Baltimore Sun reporter Scott Calvert contributed to this article.

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'Bold reforms'

The mayor says she will propose these changes to improve Baltimore's fiscal outlook:

•Require city workers to contribute to pensions

•Impose a residential trash pickup fee

•Cut city workforce by 10 percent over eight years

•Use savings to raise salaries and reduce property taxes (currently $2.268 per $100 of assessed value)