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City Council okays $58 million subsidy for Poppleton project

The City Council gave preliminary approval Monday to a $58 million subsidy for a residential and commercial development project in West Baltimore's Poppleton neighborhood.

The council advanced the legislation without discussion. The project is expected to revitalize the neighborhood by replacing vacant housing and lots with 1,600 apartments and other homes, a park, a school and 52,000 square feet of commercial space.

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The tax increment financing plan will require the city to issue bonds to give the developer money to pay for improvements, such as infrastructure costs. The city would then use the future tax revenue the property is expected to generate to pay off the debt.

The council is set to give the deal final approval June 15.

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Councilman Carl Stokes abstained from the vote. No roll call was taken.

Stokes has said he wants the city to pay for the project's infrastructure through its capital budget, rather than taking on more debt. A committee lead by Stokes declined last week to endorse the deal.

ywenger@baltsun.com

twitter.com/yvonnewenger


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