Development Incentives
Currently, there are a number of grants, loans, and tax incentive programs available to developers, businesses, and property owners who choose to invest in the Charles Street corridor and its surrounding neighborhoods.
A business is eligible for the Enterprise Zone (EZ) tax credit program if it makes a capital investment in its property (i.e., constructs or renovates a building, or expands an existing facility) or hires at least one new employee in the Enterprise Zone. Commercial, Retail as well as industrial projects are eligible. Residential properties are not eligible for any of the Enterprise Zone tax credits. For more information about EZ tax credits, please visit the Baltimore Development Corporation’s (BDC) website. www.baltimoredevelopment.com
Properties located within the BRAC Revitalization and Incentive Zone may use funds for infrastructure improvements in their designated Zone. Businesses located within a Maryland Enterprise Zone may be eligible for income and property tax credits in return for job creation and investments made within the Zone. For more information on BRAC Zones and Maryland Enterprise Zones, please visit Maryland Department of Business and Economic Development’s website at www.choosemaryland.org.
For information concerning incentives for potential homebuyers, please visit Live Baltimore’s website at www.livebaltimore.org.
Baltimore City offers a Historic Restoration and Rehabilitation Tax Credit for historic landmarks and properties located within historic districts. For more information on these incentives, please visit the Commission for Historical and Architectural Preservation’s (CHAP) website
The Heritage Preservation Tax Credit Program, administered by the Maryland Historical Trust, provides Maryland income tax credits equal to 20% of the qualified capital costs expended in the rehabilitation of a “certified heritage structure.” More information about this program can be found on the Maryland Historical Trust’s website at www.marylandhistoricaltrust.net
The Downtown Partnership of Baltimore offers a Façade Improvement Program that provides design assistance and up to $20,000 in matching grants for qualified Downtown property owners to improve the appearance of their storefronts. For more information on this program, please visit www.godowntownbaltimore.org
The Healthy Neighborhoods Initiative Homeowner Rehabilitation Loan Program makes low interest loans available to homeowners residing on the target blocks of the communities selected. For more information regarding this program, please visit Midtown Development Corporation’s website at www.midtowndevelopment.org
There are a variety of tax incentives for those who choose to invest in the Station North Arts & Entertainment District, including income and property tax benefits for property owners who renovate buildings for arts and entertainment purposes, as well as a waiver of the City’s Admissions & Amusement Tax. For more information, please visit Station North Arts & Entertainment District’s website at www.stationnorth.org
The Downtown Partnership of Baltimore, the Midtown Community Benefits District, and the Charles Village Community Benefits District provide cleaning and safety services for the Downtown, Midtown, and Charles Village areas. Some of the provided services include trash removal, street sweeping, graffiti removal, landscape maintenance and the monitoring of security cameras. Trained safety guides and neighborhood patrols work to aid City law enforcement in their efforts to improve safety on neighborhood streets. Safety awareness training is also available, as well as an escort service for pedestrians and tourists visiting Downtown Baltimore. For more information on these and other services in the Downtown area, please visit the Downtown Partnership’s website. In the Midtown area, please visit the Midtown Community Benefits District website. In the Charles Village Area, please visit the Charles Village Community Benefits District.
