Baltimore and the Baltimore Development Corporation have found a way to stimulate growth that costs the city money ("Rising wealth, falling school aid," Feb. 8).
Developer tax breaks — tax-increment-financing (TIF) and payment-in-lieu-of-taxes (PILOT) deals and other variations — are usually cloaked in language of "short-term sacrifice for long-term gain." However, Baltimore's pursuit of the new and shiny now comes with an even higher price tag, pushing the break-even point of these deals even further into the future. Despite a city task force warning, the tax breaks continue.
The state's school funding formulas don't miss facts. But in failing to calculate all of the implications, at least some in city government did.
Perhaps the state's funding formula should be re-evaluated. But perhaps it should have been accounted for by those granting these generous subsidies.
Oh, and I wonder if the developers receiving tax breaks made any campaign contributions?
Ray Saunders, Towson