A $90 million public financing deal to fund the redevelopment of downtown Columbia is up for major revisions as master developer Howard Hughes overhauls its core.
The Howard County Council is scheduled to vote on the deal as early as Nov. 7. At a work session on Monday, council members hinted they plan to introduce a series of amendments to the deal, which would be the largest TIF in the county’s history.
The proposed deal uses tax increment financing, a public financing tool that earmarks future tax revenues from the development to pay back county bonds and other costs associated with new development.
“I can’t envision the TIF passing as it was given to us,” County Council Chairman Calvin Ball said Monday. “There are going to be changes if it is going to pass.”
Click here to read the rest of the article written by Fatimah Waseem over at the Baltimore Sun.