Preservation Maryland was honored to host members of the Maryland General Assembly and the Hogan Administration to celebrate their successful efforts to reauthorize Maryland’s historic tax credit on July 14, 2016. Dozens of supporters and partners from the Maryland Historic Tax Credit Coalition joined together in Baltimore City to toast success this session – and to hear about the important work ahead in the coming session to ensure adequate funding for the well-performing economic development program.
HONORED GUESTS IN ATTENDANCE
Left to right: Sen. Richard Madaleno; Del. Brooke Lierman; Nicholas Redding, Preservation Maryland; Secretary of Planning Wendi Peters, and Elizabeth Hughes, State Historic Preservation Officer.
The Honorable Richard S. Madaleno, Jr., State Senator from Montgomery County, introduced and championed the legislation that led to the reauthorization of the tax credit bill. Sen. Madaleno supports preservation in his community, especially the mid-century resources coming online to be deemed historic, and also remarked on the tremendous restoration projects taking place across the state with the support of the historic tax credit.
The Honorable Brooke E. Lierman, State Delegate, was a great supporter of preservation this session and instrumental in requesting a Joint Chairman’s Report on preservation funding need in Maryland. The Maryland Historical Trust is now identifying the need for bricks-and-mortar, planning, and museum funding from the preservation community through an online survey and considering plans to address these statewide needs.
Wendi Peters addressed the intimate group as the new Acting Secretary of Planning, and we are pleased to have such supportive partners in the Department of Planning. Elizabeth Hughes, Maryland’s State Historic Preservation Officer at the Maryland Historical Trust is a partner to Preservation Maryland, and we are appreciative of her agency’s work in administering the historic tax credit program.
OUR WORK CONTINUES
With the historic tax credit now reauthorized, the Maryland preservation community must turn our attention to making sure that the Hogan Administration includes adequate funding for the program in future year’s budgets.
Last year, the Maryland Historical Trust received historic tax credit applications for approximately $30 million in preservation work – that’s $21 million dollars in investment in Maryland’s historic communities that had to be turned away because of the current $9 million dollar cap. For reference, the Commonwealth of Virginia invests $100 million dollars into their historic tax credit program each year.
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