Port Covington TIF approved by finance board;...

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The city’s finance board on Monday approved $535 million in tax increment financing for the massive redevelopment of Port Covington. But the Board of Finance balked on the sale of a second round of bonds for Harbor Point during the hour and a half meeting. Sagamore Development Co. — the real estate arm of Under Armour Inc. CEO Kevin Plank — plans to use the TIF to develop infrastructure on 216 of 260 acres at Port Covington. The matter will now move to City Hall where Mayor Stephanie Rawlings-Blake…