Tax Credits to Help Pay for Restoration Projects
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BALTIMORE — Maryland officials have announced $10 million in state tax credits to help pay for restoration projects at 10 historic buildings.
The latest Sustainable Communities Tax Credits were announced Monday. Since 1996, the state says nearly $350 million has been invested under the program.
The largest credit announced Monday is $3 million to convert the Baltimore Trust Company Building from an office building to residential apartments and commercial retail space. Another $2 million tax credit was announced to restore the abandoned Parkway Theater in Baltimore.
A $1.5 million tax credit also was announced to convert the St. Michael the Archangel Church Complex in Baltimore to commercial office space and residential apartments.
The state also announced a $1.5 million tax credit to renovate a former hotel building in Cumberland as residential apartments.
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