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 Saturday, November 01 2014 @ 04:13 PM MSK

$60 million Budget Surplus Result of Real Estate Boom

   
General NewsOfficials said the money likely will be directed to school construction and other quality-of-life initiatives. The city is projecting a $60.6 million budget surplus this year. Baltimore's booming real estate market has left the city flush with cash.

Mayor Martin O'Malley said this year's rosy budget projections are a sign of the city's progress and offer hope for its financial future. But the suggestions for how to spend the money range from a reduction in property taxes to more frequent trash collection.

But it comes as other cities have faced police layoffs and other deep cuts. The surplus represents a small portion of the city's $2.3 billion budget.

By: Dijon Wainwright
 

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