Several dozen people turned out Thursday to criticize Baltimore's subsidies for real estate developers — especially the $535 million of financing for infrastructure proposed to support plans in Port Covington — saying they contribute to divisions in the city.
The testimony came at a protest and a general public hearing organized by City Councilman Carl Stokes as part of the run-up to a City Council vote on the Port Covington proposal, which is designed to pay for roads, sewers, parks and other projects in South Baltimore, where Under Armour CEO Kevin Plank's company plans a major mixed-use development next to a new headquarters for the sports apparel maker.
The money in the tax increment financing, or TIF, deal would come from bonds sold by the city and repaid by new property taxes generated by the development.
Opponents said the deal would divert money from the city's general fund, where tax revenue could pay for services such as firefighters and schools. And they said Sagamore Development's plans to seek $573 million in federal and state funds would compete with other city needs.
"If we are asking the … government to give Kevin Plank a half a billion dollars, is it responsible when we don't know whether that money is going to be available to fix our roads and bridges, to fix our crumbling water infrastructure?" said Charly Carter, executive director of Maryland Working Families.
City Councilwoman Mary Pat Clarke asked if there is a way to earmark some of the revenue generated by a TIF project for other initiatives related to the community.
Abigail Ferretti, a principal in the consulting firm Partners for Economic Solutions, said those arrangements are possible but that they should not be part of the bond legislation.
The afternoon hearing ran more than two hours as citizens aired their concerns.
"It's going to create more inequality, not less," said Sharon Black of the Peoples Power Assembly.