Debate over Poppleton mega-project spurs some soul-searching (Baltimore, Frederick: 2015, apartments)

[Infinite_heights77]

Debate over Poppleton mega-project spurs some soul-searching

A debate on the West Baltimore project raises difficult questions about how a project everyone wants to succeed will actually do so

https://www.baltimorebrew.com/2015/0...oul-searching/

Finance Board members (seated, left to right) Dana Moulden, Larry Silverstein and Frederick Meier. At right is board clerk Steve Kraus.
Photo by: Mark Reutter

“I don’t know how you address that,” said Larry Silverstein, a member of the Board of Finance, shortly before the panel approved $58 million in TIF tax subsidies for a West Baltimore housing project that city officials concede is highly problematic – and might never get built.
Silverstein’s lingering concerns notwithstanding, Monday’s decision to give a go-ahead for the issuance of city bonds to help underwrite the project was a foregone conclusion.
Mayor Stephanie Rawlings-Blake has signaled her approval of the tax incentives for La Cite Development to start its proposed $450 million rebuild of the blighted Poppleton neighborhood near the University of Maryland’s BioPark.
Three weeks ago, the plan hit a snag when the absence of one member of the board – combined with a “no” vote by Silverstein and an abstention by Comptroller Joan M. Pratt – resulted in the TIF legislation not winning approval.
Board clerk (and assistant city finance director) Steve Kraus called for Monday’s special meeting to revisit that vote. Showing up was the previously-missing board member, Frederick W. Meier Jr., who voted “yes” in a new vote.
Also voting “aye” were Comptroller Pratt, Finance Director Henry Raymond representing the mayor, and Dana Moulden, leaving Silverstein as the only dissenter. (This time he abstained.)
Hopes and Doubts
Approval came only after the panel worked through 40 minutes of questions and expressions of guarded optimism and gnawing doubts about the feasibility of the project that has been stalled since 2005 and is scheduled to take another 15-to-20 years to complete.
From the start, everyone in the hearing room said they want the project to succeed.
Ninth District Councilman William “Pete” Welch praised the concept of using TIF funds for a low-income community, favorably comparing it to TIF subsidies for upscale waterfront projects such as Harbor Point (which Welch voted for in 2013.)
Calling the Poppleton project “inclusive,” Welch cited La Cite’s plan to allocate 20% of first-phase housing (52 apartments) to low-income residents. Deputy Housing Commissioner Peter Engle echoed that sentiment, saying the city has the opportunity for “place setting” or putting a new brand on a whole community.
But with every word of optimism also came concessions by Engle and others that New York-based La Cite, which has mostly done luxury hotel and small urban projects, is untested in the world of large-scale construction and has had a hard time lining up financing.

[pwduvall]

I would like to be for this project. My problem isn't necessarily with the project's possibly shaky finances. Instead, I'm concerned about the lack of explanation of what the TIF money is supposed to pay for. If the TIF money is spent on improvements that benefit the citizens of Baltimore, there really isn't much of a chance of a fiasco. If the TIF money is somehow rolled into buildings themselves, and then the project fails, there is the chance for a total loss.

[Woodlands]

Yeah.. this is bizarre.. I think in concept this is a good idea and the cause is noble and definately needed... but its way to big and the economics seem way to sketchy. Why cant this area as a "Master Planned Community" be divided up into several phases where different developers can be responsible for different phases? Instead of awarding all of the "incentives" to one developer...award it to the "Master Plan" and divide it up based on the phases. If the incentives are for infrastructure then the City should install it based on the phasing....That way.. you are encouraging investment by a wide range of developers as opposed to just one who could go belly up and stall the project for decades as it gets wrangled out of its red tape? This is going to be another Howard Street Super Block which is going to get bogged down.. but for different reasons.....

The other issue is... of course SRB is behind this project.. This is probably one of the only large "neighborhood development" projects that she can sign off on to show that she cares about neighborhoods... Most of her other efforts have been around the Inner Harbor....and East Baltimore was really well underway before she took office. There is an election coming up where I am sure some neighborhood residents of places like West Baltimore are going to try and attack her record on neighborhood development.

[james777]

Doesn't it state in the article that there are still 16 properties that have not yet been acquired? No one seems to care about them. Typical Baltimore. So I guess the city will find a way to screw the property owners out of those properties.

[Infinite_heights77]

Thanks Woodlands and James777 for your input. I guess articles like this goes right over people's heads. Not realizing the importance of what developments are taking place right before their vary eyes. Do people really care what is happening to their city??!