Harbor Point TIF Officially Happening, to Break Ground in Five Weeks

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This should come as no surprise given the overwhelming support the City Council has shown this plan from the beginning, but let it be known that the $107 million in tax-increment-financing for the development of Harbor Point has received final approval, with Council members voting 11-3 in favor, with one abstention.

And it’s likely that construction will begin right away; officials from Beatty Development Group told the Baltimore Sun that they’ve set a target date of Oct. 15 to break ground on a skyscraper that will serve as Exelon’s new regional headquarters.

Despite vocal opposition to the project from various groups, its supporters couldn’t be more optimistic. Mayor Stephanie Rawlings-Blake has called the project “catalytic.” City Council President Bernard C. “Jack” Young is confident that the gains in employment will actually lower crime in the city. Developer Michael S. Beatty predicts Harbor Point “will create thousands and thousands of jobs.”

It really lends the undertaking an air of prophecy.  I don’t know about you, but when that first shovel hits the dirt on Oct. 15, I expect to see the skies part and a dove descend to perch on someone’s hard hat or something.

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