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Tax credits to help pay for restoration projects

Monday - 12/23/2013, 2:34pm  ET

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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