Title
A RESOLUTION CONCERNING STATE OF MARYLAND COMMUNITY INVESTMENT TAX CREDIT PROGRAM for the purpose of approving the Towson University Foundation, Inc.’s application to the Maryland Department of Housing and Community Development for participation in the Community Investment Tax Credit (“CITC”) Program.
Background
This is a Resolution for the purpose of approving the Towson University Foundation, Inc.’s (the “Foundation”) application to the Maryland Department of Housing and Community Development (the “Department”) for participation in the Community Investment Tax Credit (“CITC”) Program. The Foundation applied for $33,901.00 in tax credits for its Towson UTeach Reaching Out (“TUTR Out”) Program.
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 Priority Funding Area that benefits from the project.
The TUTR Out Program will impact up to seventy-four (74) schools and classrooms and up to seventy-two (72) teachers located in Priority Funding Areas across the State. The TUTR Out Program strives to enhance County schools in Priority Funding Areas and revitalize neighborhoods by: exposing students to hands-on, inquiry-based science, technology, engineering and math (“STEM”) lessons; facilitating access to cutting edge scientific equipment in classrooms; and offering teachers professional development opportunities in the fields of science and technology.