Unlimited Access. Try it Today! Your First 10 Days Always $0.99

$135 million in New Markets tax credits to Md. groups

Four Maryland organizations won the right to raise $135 million for community development projects by selling federal tax credits, the Treasury Department said Wednesday.

The New Markets tax credits help developers fund projects intended to add jobs and bring other improvements to distressed areas. Investors purchasing the credits from New Markets recipients receive a break on their federal income taxes.

The local recipients are Baltimore-based CDF Development, a Cordish Cos. affiliate that intends to invest in retail and mixed-use projects; Baltimore-based Harbor Bankshares Corp., which will offer below-market-rate loans to projects in low-income neighborhoods; Columbia-based ESIC New Markets Partners, which focuses on health care centers, healthy-food options and mixed-use developments; and Bethesda-based Mid-City Community CDE, whose investments will include transit-oriented businesses.



  • Text BUSINESS to 70701 to get Baltimore Sun Business text alerts
  • Copyright © 2015, The Baltimore Sun
    Related Content
    • 3-D printed car factory planned at National Harbor
      3-D printed car factory planned at National Harbor

      The folks building National Harbor on the Potomac River figure it's a fine place to shop, work, eat out, gamble, stay a few nights, ride a Ferris wheel, and — manufacture cars.

    • Baltimore People on the Move archive
      Baltimore People on the Move archive

      Readers submit photos and information on employees who have recently been promoted, hired or honored at area businesses. Select photos will be published in the Maryland Business section of Tuesday editions of The Baltimore Sun. Caption size is limited and only photos are accepted in this...