From Preservation Maryland:
The Governor’s budget is a blueprint for spending that will next be taken up by the members of the Maryland General Assembly. In a tough budget year, Preservation Maryland is pleased to see funding in the budget for preservation programs.
Unfortunately, most remain woefully underfunded. Once again, the Historic Revitalization Tax Credit is budgeted to receive only $9M for the entire state, a far cry from neighboring Virginia’s $100M or even West Virginia’s $30M. Considering the proven 8:1 return on investment to the state and the potential economic and community revitalization that comes as a result of historic tax credit projects, the starvation-level funding to the program seems short-sighted especially when the state needs to be investing in stimulating economic recovery and job creation.
Level Funding for the Following Programs:
- $9 million for the State Historic Tax Credit large commercial program
- Full funding for Program Open Space
- $600k for Maryland Historical Trust capital grants
- $6 million for the Maryland Heritage Area Authority
NEXT STEP: ADVOCACY
While these programs are funded in the Governor’s budget, there is no guarantee that that funding will be retained in the final version passed by the Maryland General Assembly before the end of Session in April. Preservation Maryland and our supporters stand ready to defend these programs as the budget moves through the legislative process.
Unless noted, the thoughts and opinions expressed in the article are solely that of the
author and not necessarily the opinion of the editors of PreservationDirectory.com.