Balt. City Mayor Wants To Raise $55M; City Council Wants More Information
BALTIMORE (WJZ) -- Baltimore Mayor Catherine Pugh is proposing the city lease publicly owned garages to raise $55 million. According to our media partner The Baltimore Sun, City Council members say they need more information about where the money will go.
Mayor Pugh says she wants to use the money to create the "Neighborhood Impact Investment Fund." It would be run by a board to attract additional money for distressed communities in the city.
The Sun reports that during Wednesday's budget hearing, most on the council felt they needed more details about exactly which neighborhoods would receive funds, which projects would be focused on, and who would be held accountable for investment decisions.
The Sun quotes Council President Bernard C. "Jack" Young as saying "the board is going to determine whether communities that need this shot in the arm are really going to get it.
Pugh was not present at the meeting and instead was represented by aide Colin Tarbert. Tarbert told The Sun the money would be invested in housing and commercial projects and that the nonprofit's board would consist of both civic leaders and city officials. He also mentioned that investors could demand representation.
Council members say they need specific details and more transparency before signing off.
Follow @WJZ on Twitter and like WJZ-TV | CBS Baltimore on Facebook
