Title:
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A Resolution concerning the State of Maryland Neighborhood and Community Assistance Program for the purpose of expressing approval of the project submitted by Housing Initiative Partnership, Inc., to the Maryland Department of Housing and Community Development for participation in the Department’s Community Investment Tax Credit Program
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Title
A Resolution concerning the State of Maryland Neighborhood and Community Assistance Program for the purpose of expressing approval of the project submitted by Housing Initiative Partnership, Inc., to the Maryland Department of Housing and Community Development for participation in the Department’s Community Investment Tax Credit Program
Background
Housing Initiative Partnership, Inc. (“HIP”), a nonprofit organization based in Prince George’s County, Maryland, has applied to the Maryland Department of Housing and Community Development for approval of the “HIP’s Acquisition and Rehab” project for participation in the Community Investment Tax Credit Program. HIP is seeking tax credit allocations in the amount of $50,000.00 to support its efforts to rehabilitate two homes that have been vacated and abandoned in Palmer Park or Suitland. HIP would acquire these homes and rehabilitate them using green building materials. Thereafter, these homes would be sold to low and moderate income first-time homebuyers. The project would create suitable living environments by enhancing the physical neighborhood in a Priority Funding Area. Further, the project would focus on neighborhood revitalization and boost property values. The State of Maryland requires local legislative support for participation in the Program.