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Under Armour's 200-Acre Mega-Project Gets BDC Approval For Public Financing


Baltimore Development Corp, Baltimore's economic development arm, has approved $535M in tax increment financing to pay for infrastructure for Sagamore Development's Port Covington, the Baltimore Sun reports. Under Armour CEO Kevin Plank's real estate company is planning residences, retail, a whiskey distillery, parks and the future home of the sportswear giant on more than 200 acres in Port Covington and has requested public financing to pay for sewer, utilities and bike paths. Baltimore's Department of Finance and the Baltimore City Council will review the plan next. [Sun]