Plank’s TIF will hurt schools
Kevin Plank brings up a good point when he asks us to consider “our children and their children” and how will they look back on the decision on whether or not to build Port Covington and see if we “chose the best course” (“Kevin Plank’s pitch,” Sept. 8). He is advocating that the City Council approve a $660 million tax increment financing plan to help finance his Port Covington project.
This TIF will increase the city’s assessable tax base without increasing tax revenues, thereby affecting state funding for Baltimore schools for the next 30 years. While some “fixes” for this problem have been proposed, they are of short duration and are not truly binding on Sagamore Development. If we are thinking of our children, as Mr. Plank suggests, we should not support Port Covington.