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Officials outline noncontiguous TIF rollout, timelines and VBN standards at oversight hearing
Summary
DHCD and finance officials briefed the committee on the first tranche of the noncontiguous tax‑increment financing (TIF) program, the application portal and deadlines, and answered questions about vacant building notice (VBN) accuracy and legal thresholds for enforcement.
Baltimore officials outlined plans for the city—s noncontiguous tax‑increment financing (TIF) program and reviewed legal thresholds used to declare properties vacant during an oversight hearing of the Housing and Economic Development Committee.
Alice Kennedy, housing commissioner, and the department—s development staff described a multi‑agency effort to use a mix of city TIF funds, state commitments and philanthropic and private capital to rehabilitate vacant properties across targeted neighborhoods. Director Moxton (DHCD) said the TIF "makes up $150 million of the city's $300 million commitment" and that the state has pledged roughly $900 million over 15 years; the city—s initial ordinance authorizes an initial sale of up to $65 million in TIF bonds. The department opened a competitive application portal on Sept. 19 and set an Oct. 3 deadline for submissions; officials…
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