City Approves Port Covington Deal Giving $135 Million to Community

Wednesday the Board of Estimates approved the 22-page Memorandum of Understanding (MOU) that nearly completes the foundation for Kevin Plank’s Port Covington project. 

The MOU between Sagamore Development and the city of Baltimore essentially outlines the benefits the Baltimore community will receive in exchange for the $660 million in tax increment financing that will go toward Port Covington. Some community leaders say it’s the best deal Baltimore has ever struck with a developer.