Catalytic Revitalization Tax Credit Grant

Catalytic Revitalization Tax Credit Grant

Status: ACTIVE
Funder: Maryland Department of Housing and Community Development
Last Updated: October 08, 2024

Summary

The Catalytic Revitalization Tax Credit, offered by the Maryland Department of Housing and Community Development, provides up to $15 million to rehabilitate eligible properties previously owned by government entities. This initiative aims to stimulate economic growth and community development, particularly emphasizing affordable housing. To qualify, businesses must be in good standing with Maryland and engage in projects that align with these goals, focusing on former educational and health facilities.

Overview

The Maryland Department of Housing and Community Development is pleased to announce availability of the Catalytic Revitalization Tax Credit, a credit of up to $15 million. The purpose of the credit is to rehabilitate certain eligible properties formerly owned by the State or federal governments​, for the purposes of driving economic and community development. This credit is authorized under §6–901 of the Housing and Community Development Article of the Laws of Maryland.

Eligibility

You can learn more about this opportunity by visiting the funder's website. To be eligible to apply for the Catalytic Revitalization Tax Credit, a business (without regard to its for profit or non profit status) must be in good standing with the State of Maryland and eligible to receive a public benefit.Eligible ProjectsAn eligible project must be a formerly State or federally-owned college or university, K-12 school, hospital, mental health facility, or military facility or installation, and may no longer be in service. The rehabilitation of the property must foster economic, housing, and community development in the community in which it is located, and a successful application should have an emphasis on affordable housing​.