Baltimore City moved swiftly to purchase land within an area designated for slots, which Maryland voters approved Tuesday in a referendum.
The city Board of Estimates approved the $4.1 million purchase of the parcel, near M&T Bank Stadium, at the board’s regular Wednesday morning meeting.
The parcel is in the area included in the referendum, which designates 15,000 slot machines at five locations — including commercial property within a half-mile radius of Interstates 295 and 95 in South Baltimore.
“As part of the law, the city is required to own the property used for slots, which the city can then lease,” said Sterling Clifford, spokesman for Mayor Sheila Dixon.
But it is unclear how the property will fit into the city’s plans for the proposed $200 million Gateway South Development, which is only a few blocks away. City officials announced the project last year.
“It is definitely not part of the land we are purchasing,” said Samuel Polakoff, president of Cormony Development, the company heading the Gateway South project, a proposed $200 million waterfront project that includes about 1 million square feet of retail, hotels, offices, sports and the Ray of Hope Center, a community center operated by Ravens star Ray Lewis.
Last year the city signed a deal with Cormony giving the company exclusive rights to purchase the land in the slots area in exchange for four $5,000 quarterly payments. The deal includes an option to renew for an unspecified number of 90-day terms.
But Polakoff said slots are not part of his plans for Gateway South.
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