Title
A RESOLUTION CONCERNING STATE OF MARYLAND COMMUNITY INVESTMENT TAX CREDIT (“CITC”) PROGRAM for the purpose of approving The Foundation Schools, Inc.’s (“The Foundation Schools”) application to the Maryland Department of Housing and Community Development (the “Department”) for participation in the Community Investment Tax Credit (“CITC”) Program.
Title
This Resolution is for the purpose of approving The Foundation Schools, Inc.’s (“The Foundation Schools”) application to the Maryland Department of Housing and Community Development (the “Department”) for participation in the Community Investment Tax Credit (“CITC”) Program.
The Foundation Schools applied for fifty thousand dollars ($50,000.00) in tax credits to expand its Career Connections Program, which provides career and post-secondary education preparation and support to its students. Additionally, the tax credits will allow The Foundation Schools to expand its Foundation Links Program, which provides in-home interventions to families in crisis.
The Foundation Schools will conduct the Career Connections Program and the Foundation Links Program at its campus located in Largo, Maryland, a State-identified Priority Funding Area. Under §6-405 of the Housing and Community Development Article of the Annotated Code of Maryland, the Department may not approve a proposal submitted for tax credits under the CITC Program unless the proposal is approved by the governing body or authorized designee of each county and/or municipal corporation that includes any of the Priority Funding Area that benefits from the project.