The passage of a Memorandum of Understanding, promising some $135 million in "community benefits," cleared the way this week for the city to float $660 million in infrastructure bonds to support a $5.5 billion mega-development in Port Covington by Sagamore Development Corporation, one of Under Armour founder Kevin Plank's many businesses. This is a coup of the highest order, as the agreement only contains about $65 million, with the rest covered by promises, "anticipated revenue," fundraising, and things (public parks! Rights-of-way!) that would have had to happen anyway. The promise of thousands of jobs in exchange for the 30-year tax abatement (Port Covington's taxes will be dedicated to paying back the bonds underwriting it) demonstrates the value, to the nearest million dollars, of our municipal inferiority complex.