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Baltimore’s Port Covington project adds $5.5B mixed-use component

According to the memorandum of understanding between primary developer Sagamore Development and the city of Baltimore, the bonds that will help pay for the project’s estimated $1.4 billion of infrastructure will be supported by future incremental tax revenues generated by the development. The project, which also includes a new Under Armour headquarters and other buildings, is expected to generate more than $5.5 billion in construction expenditures and $9.4 billion in construction-related economic activity;

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