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Baltimore officials declare new 'standard' for passing development subsidies

Baltimore officials declare new 'standard' for passing development subsidies

In awarding the latest subsidy from cash-strapped Baltimore to a developer, City Council leaders said Monday that the firm must set aside millions for the nearby community — a new standard they plan to impose.

The $17.5 million tax increment financing subsidy — called a TIF — will go to Wexford Science & Technology to expand the University of Maryland's BioPark in West Baltimore. But council members said the deal's $4 million community benefits fund is the true breakthrough.

"This is going to set the standard and the bar for TIFs to come," City Council President Bernard C. "Jack" Young said. "Anybody that's coming for a TIF is...

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