Johns Hopkins is a fine citizen of Baltimore, but its nonprofit status means that the takeover of the Zurich Insurance building will further erode Baltimore's tax base. The state assesses the Zurich property at $23.6 million.
This is one reason the city needs to encourage for-profit projects such as the Walmart and Lowe's planned for Remington. They'll be in an enterprise zone, so the property will get tax discounts for a decade. But then the property will be a fully tax-paying entity. With more of those around, the city wouldn't have to threaten to lay off so many police officers.