PreservationDirectory.com
PreservationDirectory.com
 
home
preservation events & conferences
press releases & job postings
› main menu
› article guidelines
› submit an article
grants & funding sources
heritage marketing services
preservation library:
articles, regulations & policy
preservation organizations
& resources
museums & historic structures
historic real estate
preservation businesses,
products & services
historic lodging:
inns, b&b's, hotels
historic tours
preservation general resources
historic photo galleries
preservation bookstore
frequently asked questions
about us
join email list
contact us
site map


member login

Featured
Property For Sale
View more information about this historic property for sale in St Petersburg, Florida

Historic Castle Home located in Old Northeast St Petersburg

St Petersburg, FL
PreservationDirectory.com
30 Bromley Road
Pittsford, NY 14534
Phone: (503) 308-0500

Email Us!
foo




Atlas Preservation

Mad Dog Primer

University of Oregon



PreservationDirectory.com

Funding, Tax Incentives, Grants & Awards for Preservation Projects     


Funding, Tax Incentives, Grants & Awards for Preservation Projects
Back to Press Releases Print   Submit an Article
Governor O’Malley Proposes Extending Maryland’s Historic Preservation Tax Credit Program
Historic Preservation Blog from PreservationDirectory.com - National Trust for Historic Preservation, Public Policy, Maryland, Historic Preservation Tax Credit Program, Heritage Structure
Contributed By: The National Trust for Historic Preservation's Department of Public Policy
Email The Author: pr@nthp.org
Website: http://www.nthp.org

As part of his Smart, Green, and Growing Legislative Initiatives, Maryland Governor Martin O’Malley is calling for the extension of the historic preservation tax credit program and also proposes key changes to make the credit stronger. In a January 13th Baltimore Sun article O’Malley calls the incentive one of Maryland’s “strongest and most valuable tools” for redeveloping communities and one that benefited Baltimore greatly during his tenure as mayor of that that city.

In addition, the O’Malley administration is considering expanding the credits by as much as $100 million to $150 million over five years. The program had been slated for $15 million this year, but that was slashed to $10 million in budget cuts made last fall - while developers were seeking $42 million in credits. Administration officials also hope to increase the credit by changing the way it is financed. For instance, instead of appropriating funds for the credits as they are awarded, the administration wants to account for the credits as the projects are finished, usually a couple of years later.

In a similar vein, the Maryland Senate is considering a bill that calls for reestablishing and altering the Maryland Heritage Structure Rehabilitation Tax Credit Program so that applications for approval of rehabilitation plans are received on a first-come, first-served basis with an aggregate cap of $100 million dollars for the program.

For more details about the proposed changes to the Maryland historic preservation tax credit, contact Jessica Feldt at 410/685-2886, ext. 302, JFeldt@preservationmaryland.org, or visit Preservation Maryland (http://www.preservationmaryland.org/html/advocacy.html).

Reprinted by permission of the Public Policy Department of the National Trust


Keywords: National Trust for Historic Preservation, Public Policy, Maryland, Historic Preservation Tax Credit Program, Heritage Structure

Posted: February 2, 2009
Back to Press Releases Print   Submit an Article


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.
   



PreservationDirectory.com | preservation events & conferences | press releases & job postings | organizations & resources
museums & historic structures | historic real estate | preservation businesses, products & services | historic lodging
historic tours | preservation general resources | historic photo galleries | preservation bookstore | preservation library
frequently asked questions | about us | join email list | heritage marketing services | contact us | site map

© Copyright 2019 - PreservationDirectory.com | website by Stolutions