$300,000 Available to Fund Preservation of Historic Properties
(November 6, 2023) CROWNSVILLE, MD – The Maryland Historical Trust (MHT), a division of the Maryland Department of Planning (MDP), is accepting applications for FY24 financial assistance under the MHT Historic Preservation Loan Program. The purpose of this capital program is to assist and encourage efforts to acquire and preserve historic properties. A maximum of $300,000 in funding is available for FY24.
Eligible applicants for loans include nonprofit organizations and local jurisdictions. Business entities and individuals may also apply for program loans when seeking funds for a preservation or development project that serves a high public purpose – such applicants must demonstrate an inability to obtain private financing. Eligible loan projects include acquisition, refinancing, rehabilitation, or restoration of historic properties. Loan terms are up to twenty years. A preservation easement must be conveyed to MHT on any assisted property. Loan application and loan closing fees are required.
In addition, certain nonprofits are eligible to apply for a non-repayable transfer of funds from the program. This component of the program is new for FY24 and is only available to a “qualified cooperating nonprofit organization,” meaning a nonprofit organization that is based in the state, operates statewide, and has demonstrated experience rehabilitating historic structures, managing preservation funds, and holding preservation easements. Eligible costs under the transfer program are limited to the acquisition of historic properties or interests in historic properties for resale or lease, the rehabilitation or restoration of historic properties for resale or lease, providing loans to other nonprofit organizations, political subdivisions, and business entities to acquire, rehabilitate, restore, or refinance historic properties, providing loans to individuals to rehabilitate or restore National Historic Landmarks, and certain administrative costs and programmatic expenses.
Applications for either a loan or a transfer are due by January 15, 2024. Interested potential applicants should contact Barbara Fisher, MHT Capital Grants and Loans Administrator, at (410) 697-9574 or barbara.fisher@maryland.gov for assistance in determining your project’s eligibility and for additional guidance. Copies of the Loan Program Guidelines and Application, as well as the Transfer Application, are available at:
mht.maryland.gov/loans.shtml
The Maryland Historical Trust (MHT) is a state agency dedicated to preserving and interpreting the legacy of Maryland’s past. Through research, conservation, and education, the Trust assists the people of Maryland in understanding their historical and cultural heritage. The Trust is a division of the Maryland Department of Planning and serves as Maryland’s State Historic Preservation Office (SHPO) pursuant to the National Historic Preservation Act of 1966.
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