Another O'Malley Boondoggle
The Maryland Public Policy Institute and the Maryland Tax Education Foundation released a new report on the State Center project in Baltimore: State Center, Phase I: The $127 Million Taxpayer Handout
The study finds that when factoring in all the tax credits, TIF bonds and loans we're shelling out $127 million just for the first phase of State Center. The study estimates the total project to cost $1.5 billion.
1 comments:
Thanks for the coverage on this one.
This is a great example of the government absolutely ignoring ways they could spend less (and help private industry in Baltimore City).
Of course, why would they want to do that? The more they spend the more they can increase taxes (so they think, as so it has been), which increases their perceived power.
Plus, the more involved in downtown development they are, the more they have direct control over the city. Imagine how much power they'd lose but cutting property taxes and fostering real, organic growth! Unthinkable!
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