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 total investment. As with all such projects, Harbor Point's pre-approval advocacy was rife with promises of jobs, revitalization, and eventual increased tax revenues.
"Promise vs. Performance: Why Public Subsidies of Private Development Are Not Likely to Produce Fair Returns to the Taxpaying Public,"
University of Baltimore Journal of Land and Development: Vol. 4
, Article 4.
Available at: http://scholarworks.law.ubalt.edu/ubjld/vol4/iss1/4