Governor Hogan has submitted a $21.5 million supplemental budget proposal to the General Assembly to fund demolition in Baltimore City.
As reported in The Baltimore Sun, the Governor had promised to provide $74 million in funds over a multi-year period for this demolition project.
An earlier article in the Sun noted the funds were not included in the Governor’s initial budget as a memorandum of understanding had to be completed between the City, State and Stadium Authority:
Hogan announced the project with Mayor Stephanie Rawlings-Blake in January but didn’t allocate money for it in his budget proposal for the coming fiscal year. The governor said last week he was waiting until the city finalized the paperwork and plans before releasing a supplemental budget that would include the spending.
Rawlings-Blake said Wednesday the plan would “revitalize” neighborhoods at a “pace we’ve never seen before.”
The agreement would be effective through June 30, 2019. Any spending proposed by Hogan would require the approval of the General Assembly to become law. Lawmakers are holding hearings on Hogan’s budget.
City officials estimate they could demolish 20 blocks in the first year of the plan. Properties would be turned into green spaces and then offered to developers.
The state is offering $600 million in financing options for development. The money comes from existing government programs. About $300 million is from a federal program for privatizing public housing and $210 million in bonds for affordable housing projects in Baltimore.
For more information read the full articles in The Baltimore Sun: