State Board: Baltimore Dev. Corp Violated Open Meetings Act
BALTIMORE (AP) — A state board says the Baltimore Development Corp. improperly barred the public from meetings about a proposal that the city borrow $535 million to pay for infrastructure projects on land owned by Under Armour CEO Kevin Plank.
The Open Meetings Compliance Board said Monday the BDC's reason for closing the meetings — that it was discussing the marketing of bonds — didn't apply.
Plank's real estate company, Sagamore Development, is seeking $535 million in tax increment financing for a redevelopment project in South Baltimore. The TIF bonds would be repaid by taxes generated by the project.
The board wrote in its opinion that the fact that the TIF proposal might lead to an entity's marketing of bonds doesn't mean that the BDC may bar the public from its discussions.
A BDC spokeswoman declined to comment.
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