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City enters $60 million, 10-year agreement with Baltimore institutions to help fund public services

 

Baltimore Sun

May 31, 2016

The city has signed a $60 million agreement with 14 nonprofit hospitals, colleges and universities to help pay for public safety and other essential city services over the next decade, Mayor Stephanie Rawlings-Blake announced Tuesday.

Baltimore's spending panel is expected to approve the memorandum of understanding at Wednesday's meeting. The agreement calls for the institutions to pay an average of $2.6 million more a year than the current agreement, which expires June 30.

Under the existing agreement, the entities paid a combined $20.4 million since 2010. The institutions are tax exempt.

Rawlings-Blake called it a "landmark agreement" that "balances the needs of both the City and the nonprofit institutions." The deal was negotiated over the past year.

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