The Maryland Historical Trust is now accepting applications for more than $10 million in Sustainable Communities Tax Credits for commercial rehabilitation projects in eligible communities. The deadline for commercial project applications is September 15, 2010.
The Sustainable Communities Rehabilitation Tax Credit is available for commercial (income-producing) properties including office, retail, rental housing, etc. at different credit levels based on property type:
- 20% credit for “certified historic structures”
- 25% credit for “certified historic structures” that are high-performance buildings (LEED Gold certified or the equivalent)
- 10% credit for non-historic “qualified rehabilitated structures”
The total amount of tax credits distributed each year is based on an annual appropriation in the State’s operating budget. The amount varies year to year based upon the amount included in the Governor’s proposed budget and the final budget passed by the General Assembly. Applications for the Commercial Rehabilitation Tax Credits are accepted once annually and are competitively reviewed and ranked. Awards are made to the extent that appropriations are available.
Application Information for Commercial and Residential Properties
