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Promise Vs. Performance: Why Public Subsidies Of Private Development Are Not Likely To Produce Fair Returns To The Taxpaying Public, Marc Knapp
University of Baltimore Journal of Land and Development
On September 10, 2013, the Baltimore City Council gave final approval to Harbor Point, a $1 billion multi-use project to be built on a vacant, remediated brownfield that juts into Baltimore's Inner Harbor. Like many urban development or redevelopment projects, Harbor Point will be supported by significant taxpayer subsidies. Between a $107 million direct investment in project-related infrastructure largely parks that will surround the to-be-built offices, shops and residences, and a waterfront promenade - along with a mixed bag of real estate and income tax incentives, the visible public support to Harbor Point will exceed $200 million, 20% of projected …