Small business owners and residents invited to November 18 presentation on recent enhancements to County and state rehabilitation tax credit programs
SILVER SPRING, MD – The Montgomery County Planning Department’s Historic Preservation Office Supervisor Scott Whipple will join staff from the Maryland Historical Trust at a November 18 presentation in Takoma Park on recent enhancements to County and state historic preservation tax credit programs. Earlier this year, the Maryland General Assembly expanded the Maryland Sustainable Communities Tax Credit program to help owners of small businesses complete rehabilitation projects in designated historic districts, and beginning in 2014, the county credits were increased to 25% from 10%.
“Montgomery County homeowners have made great use of the state historic preservation tax credits, often in concert with the county’s credits, but only a few commercial projects have received the state credits. That should change under the newly expanded state program,” says Whipple. “The expanded program will help owners of historic commercial property in Takoma Park, Kensington, and elsewhere in the county participate in this powerful historic preservation incentive program.”
This workshop is an opportunity for property owners to learn about the changes to the state program that make the credits more accessible for renovation projects, such as those in historic districts like Takoma Park or Kensington. The credits are also available to the owners of historic residential properties who rehabilitate their properties. The County’s 25 percent can be used with the state credits, greatly enhancing the benefit of the credits to owners who make investments in their historic properties.
A question and answer session will follow the presentations by state and county preservation experts to offer the opportunity for the public to understand the program details more fully.
Details:
What: Workshop on revised Maryland and Montgomery County historic preservation tax credits
When: Tuesday, November 18, 7-9 p.m.
Where: Historic Takoma Inc. Headquarters (7328 Carroll Avenue, Takoma Park, MD)
Why: Learn how to get a share of state and county funds dedicated to preserving historic structures and rebuilding the best of Maryland Communities