by Scott Whipple
At Wednesday’s Historic Preservation Commission meeting, the HPC completed their review of the calendar year 2010 historic preservation tax credit applications, recommending approval of a total of 59 applications. The projects represent nearly $1 million invested, much of which went directly into Montgomery County’s economy in the form of maintenance to and rehabilitation of historic properties designated in the County’s Master Plan for Historic Preservation. And the credits put $98,344 back in the pockets of county property owners.
A study of the Maryland rehab tax credit program, prepared by the Abell Foundation in 2009, called historic preservation tax credits a “community revitalization engine.” The Abell report found that the state program stimulated investment, created jobs, and improved economies. In … Continue reading