Baltimore council approves $660M for waterfront development

MarketsAssociated Press

Baltimore's City Council has given final approval to $660 million in public financing for Under Armour CEO Kevin Plank's mixed-use waterfront development.

The council voted 12-1 Monday evening to approve the public financing package for Port Covington. The $5.5 billion development will have offices, homes, restaurants, green space and a new campus for Under Armour, a sportswear company.

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Councilman Warren Branch voted against the deal; two other members abstained. A spokeswoman for Mayor Stephanie Rawlings-Blake tells The Baltimore Sun (http://bsun.md/2cyY24O ) that she'll sign the bill next week.

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Information from: The Baltimore Sun, http://www.baltimoresun.com