City to receive block grant funds

properties get tax credits

August 07, 2005|By Gregory T. Simmons

The City of Hagerstown and two private property owners will benefit from new money that was announced this week.

The city will receive a $1.09 million Community Development Block Grant from the U.S. Department of Housing and Urban Development, according to a release from U.S. Rep. Roscoe Bartlett's office.

Together with unspent money received in last year's federal grant and other program income, the city expects to spend $2.9 million this year as part of its block grant program, which goes to commercial improvements, property purchases, housing and other uses.

"Obviously, we're very pleased to have this," City Finance Director Alfred Martin said. "The block grant program means a lot to the city."

Two commercial redevelopment projects will benefit from a Heritage Preservation Tax Credit Program Awards announced this week by Gov. Robert L. Ehrlich Jr.

One project at 28 S. Potomac St. in Hagerstown will receive $540,000 in property tax credits. The property is owned by a limited liability company for which the resident agent is Donna E. Deming of Glenwood, Md., according to computerized state tax documents.

The other project is the Jacob Swope House at 66-70 W. Washington St. in Hagerstown, also known as the Delta building. The project would receive $112,000 in tax credits.

According to tax records, the property is owned by Mohammed Azadi.

City Planning Director Kathleen Maher said the city is not involved in the tax credit program, but generally the credits are awarded to rehabilitation projects, and the tax credit is worth up to as much as one-fifth the value of the entire estimated project cost.

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