Senate Bill Targets Blight Areas

A Maryland Senate bill currently in the Economic Matters committee could make things more agreeable for cities to target blighted areas. Senate President Bill Ferguson said that the bill, introduced by Senator Cory McCray, would designated blighted areas for redevelopment through Tax Increment Financing…

“It’s one of our economic development bills – part of our larger package. It allows local government entities to designate blighted areas as development districts and then a new financing tool to fund development projects by capturing the future increases of all properties in an area. This is a new tool.”