FOR IMMEDIATE RELEASE: State Historical Trust Announces Eight Maryland Projects Receiving Historic Preservation Tax Credits

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Press Release



John Coleman

(410) 767-4614 (o)

(410) 652-3652 (c)

State Historical Trust Announces Eight Maryland Projects Receiving Historic Preservation Tax Credits

$9 million in tax credits to leverage projects that will create an estimated 650 jobs; Tax credit program is most effective tool for revitalizing historic communities

CROWNSVILLE, MD (October 31, 2017) -The Maryland Historical Trust (MHT) today announced the selectees of the 2018 Historic Structure Rehabilitation Tax Credit Program. Eight projects which scored the highest in the application process were awarded $9 million in tax credits to leverage construction projects with a cost of more than $46 million (In all, 17 applicants had sought $27 million in tax credits for construction projects totaling more than $233 million in estimated costs).

The Heritage Structure Rehabilitation Tax Credit and its predecessor program, administered by MHT, an agency of the Maryland Department of Planning, has invested more than $394 million in Maryland revitalization projects since it began in 1996. The investments have helped restore more than 4,557 homeowner and 678 commercial historic structures, preserving buildings that contribute to the distinct character of Maryland's towns, cities and rural areas. According to a study by the Abell Foundation, this Maryland program is estimated to have helped to create 28,565 jobs through construction and new or expanded occupation of these significant historic resources.

The eight applications selected for the 2018 tax credit were based on an established set of criteria, including those outlined by the U.S. Secretary of the Interior for historic building rehabilitations.

The eight selectees are: 

Power Plant, Music Practice Hall &Fire House – Hume Drive, Silver Spring, Montgomery County
Hearn Hardware Company – Race Street, Cambridge, Dorchester County
3840 Bank Street, Baltimore City
Belnord Theatre – Pulaski Highway, Baltimore City
Kensett House – Eutaw Street, Baltimore City
Alex Brown Building – East Baltimore Street, Baltimore City
McCrory’s 5 & 10 cent Store – West Patrick Street, Frederick, Frederick County
Union Brothers Furniture Company – South Hanover Street, Baltimore City

Details on these projects are listed below.

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