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Tax Credits Awarded to Main Street Middletown, MD Inc for Preservation Project

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Tax Credits Awarded to Main Street Middletown, MD Inc for Preservation Project

Main Street Middletown awarded $10,000 in tax credits from the MD Department of Housing & Economic Development

PR Newswire

MIDDLETOWN, Md., August 24, 2018 /PRNewswire-PRWeb/ -- The Maryland Department of Housing and Economic Development awarded Main Street Middletown, MD Inc. tax credits in the amount of $10,000 for our project Rehabilitation of 19 West Main Street on August 17, 2018.

Main Street Middletown, MD Inc., competed with nonprofits throughout the state to be included in this advantageous Community Investment Tax Credit program. The program provides financial incentives to individuals and businesses to donate to nonprofits that are part of Community Investment Tax Credit program, which in turn, often leads to larger and more donations to the nonprofit. Main Street Middletown, MD Inc., is in the process of fundraising forthe purchase and rehabilitation of 19-21 West Main Street, Middletown, MD. These two historically significant buildings represent some of the most widely recognized structures on our Main Street. When the property owner decided to retire, Main Street Middletown was keen to save these important historic structures. "Having our application awarded tax credits is a significant benefit to our organization's fundraising efforts, and to our donors bottom line," said Main Street Manager, Becky Axilbund, "and we are thrilled we can present this financial incentive to our supporters."

The Maryland DHCD tax credit program allows donors an additional tax credit based on the amount donated to nonprofits, such as Main Street Middletown, MD Inc. that have been included in this prestigious tax credit program.

Main Street Middletown, MD Inc is dedicated to enhancing the sense of place, quality of life, and economic vitality of the Middletown Community. Main Street Middletown strives to bring together all aspects of the community – citizens, businesses, and government, as well as county and statewide partners to revitalize, preserve, promote, and support the historic downtown area.

 

SOURCE The City of Frederick

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