Section 7-504.4 - Hippodrome Performing Arts Center(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.