Baltimore’s spending panel voted unanimously Wednesday to approve a $100 million community benefits deal signed by city officials and the developers of Under Armour CEO Kevin Plank’s Port Covington project.
Officials including Comptroller Joan M. Pratt and City Council President Bernard C. “Jack” Young emphasized that the deal includes an auditor dedicated solely to Port Covington. They said the auditor will ensure that Plank’s Sagamore Development Co. follows through on its pledge to build an inclusive project that employs local residents at good wages.
“I look forward to them being in compliance,” Pratt said. “We’re going to hold their feet to the fire.”
The $100 million deal — which was announced last week but required the approval of the Board of Estimates — builds off a $39 million agreement between the developer and six neighborhoods near the project. That agreement includes $25 million to train workers at a new Port Covington training center and $10 million in no-interest loans or other funding streams for minority- or women-owned startups.
Click here to read the rest of the article written by Luke Broadwater over at Baltimore Sun