By: Adam Bednar, Maryland Daily Record
Mayor Bernard C. “Jack” Young said he’s considering supporting public financing to bolster an $800 million redevelopment of public housing sites in east Baltimore.
Previously, as City Council president, Young expressed skepticism regarding tax increment financing for rebuilding the Perkins, Somerset and Old Town areas of the city. During his regular press conference on Wednesday, Young said changes to the plans, particularly the inclusion of school construction, means he may reconsider.
“Now that it’s going to be a school included in the TIF, and its going to be money set aside for community and training, and those kind of things, I can consider that while the council do what it needs to do … but things are coming into place now that I think it’s going to be favorable for me to support the TIF,” Young said.
PSO Housing Co. LLC, a joint venture of St. Louis-based McCormack Baron Salazar, plus Beatty Development Group, Henson Development Co. and Mission First Housing Group are pursuing an $800 million redevelopment of Perkins Homes, the former Somerset Courts public housing site and the Old Town Mall site.
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