Md. Panel Passes Contentious Tax Deal For $1.3B Project

Law360, New York (August 8, 2013, 3:23 PM EDT) -- A Baltimore city council committee pushed through a controversial tax increment financing plan late Wednesday, after hours of heated debate, for a developer's $1.3 billion plan to redevelop a 27.6-acre waterfront site in Maryland.

A measure to give Beatty Development $106.9 million in a TIF package passed the council's Taxation, Finance and Economic Development Committee by a 3-0 vote, with one abstention and one member absent, the council confirmed to Law360.

Committee chairman Carl Stokes reportedly stormed out of the meeting after moves to slash the...
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