March 12, 2026
Originally published in The Banner.
“The city, in doing this, is making a big splashy statement to the private capital market that downtown is a place to invest,” said Mac McComas, a researcher focused on urban revitalization in Baltimore and postindustrial cities at Johns Hopkins 21st Century Cities Initiative.
Because the legislation leaves PILOTs individualized, McComas said Baltimore will retain some flexibility in the terms it can reach to protect itself. Of critical importance will be how the agreements are structured and for how long.
“If this is as successful as the city would hope, are they giving away more in tax revenue than they could otherwise?” McComas said. “It’s an unknown future there, but it’s a question worth asking.”