City Council granted a one-year extension Monday to a tax credit meant to preserve Baltimore’s historic character, an abbreviated timeline that Council President Nick Mosby said is intended to put pressure on Mayor Brandon Scott’s administration to get moving on a long-promised review of how tax incentives are affecting disinvested parts of town.
A previous version of the legislation recommended a five-year lease on life for the historic preservation tax credit, but earlier this month aCityCouncil committee endorsed the much shorter, 12-month extension.
Approval for the short-term extension also comes after an analysis by city finance officials found the credit to be overly generous and failing to benefit struggling neighborhoods.
The credit is set to expire on Wednesday. The 12-month extension passed City Council unanimously Monday, with one member absent, and now goes to Scott’s desk for final approval.
This story continues. Read the rest at The Baltimore Banner: Baltimore’s historic preservation tax credit gets short-term extension as Mosby seeks changes
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