(a) (1) In this section the following words have the meanings indicated. (2) "Hippodrome Performing Arts Center facility" means the Hippodrome Performing Arts facility as defined in § 10-601 of the Economic Development Article. (3) "Hippodrome Performing Arts Center site" means the Hippodrome Performing Arts site as defined in § 10-601 of the Economic Development Article. (b) The Hippodrome Performing Arts Center site and the Hippodrome Performing Arts Center facility are subject to property taxes unless: (1) such properties are used principally as a performing arts center; and (2) the owner of such properties and the Baltimore City Board of Estimates agree on a payment that the owner shall make to Baltimore City in lieu of Baltimore City real property taxes.
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