Title
A RESOLUTION CONCERNING STATE OF MARYLAND COMMUNITY INVESTMENT TAX CREDIT PROGRAM for the purpose of approving the proposal submitted by Towson University Foundation, Inc. (the “Foundation”) to the Maryland Department of Housing and Community Development for participation in the Community Investment Tax Credit (“CITC”) Program.
Background
This Resolution is for the purpose of approving the proposal submitted by Towson University Foundation, Inc. (the “Foundation”) to the Maryland Department of Housing and Community Development for participation in the Community Investment Tax Credit (“CITC”) Program.
The Foundation proposes to use up to ten thousand dollars ($10,000.00) in tax credits to expand the services provided by the Towson University Center for STEM Excellence (“TUCSE”) to Prince George’s County Public Schools within priority funding areas. Specifically, the Foundation proposes to use the tax credits to support transportation and fees associated with field trips to TUCSE’s SciTech Student Learning Laboratory, which offers students an opportunity to engage in hands-on bioscience activities that complement and enhance their classroom learning.
Section 6-405(c) of the Housing and Community Development Article, Annotated Code of Maryland, provides that the Maryland Department of Housing and Community Development may not approve a proposal for participation in the Neighborhood and Community Assistance Program unless the proposal is approved by the governing body or authorized designee of each county, municipal corporation or political subdivision that includes any of the priority funding areas that benefits from the project.