Title
A RESOLUTION CONCERNING STATE OF MARYLAND COMMUNITY INVESTMENT TAX CREDIT PROGRAM for the purpose of approving the proposal submitted by the Housing Initiative Partnership, Inc. (“HIP”) 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 the Housing Initiative Partnership, Inc. (“HIP”) to the Maryland Department of Housing and Community Development for participation in the Community Investment Tax Credit (“CITC”) Program.
The HIP proposes to use up to twenty five thousand dollars ($25,000.00) in tax credits to operate the Rental and Financial Capability Program (the “Program”). The Program, a financial literacy and money management program, provides services to residents in priority funding areas within Prince George’s County. HIP has established a formal partnership with the Prince George’s County Department of Social Services (“DSS”). DSS refers individuals who have been moved from homeless shelters into permanent rental housing to HIP. This partnership is part of the County’s recently launched “Rapid Rehousing” Program. HIP’s Rental and Financial Capability Counselors work with these newly placed renters to ensure that they strengthen their finances and connect with needed resources in order to maintain permanent rental housing.
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.