Urgent Message Regarding: Baltimore City New Construction Tax Credit
This legislation contained a sunset provision with an expiration date of June, 30, 2019. We were not made aware of this until the middle of last week. However, we immediately put together a collaborative group representing the “One Voice for Real Estate”. This group reached out to key members of the City Council leadership and the Director of Finance to Baltimore City. We can now say with a high degree of confidence that an alternative recommendation should be implemented to restore this program within 45 days. This time frame is predicated on certain departmental, administrative and legal approvals within the city. Mindful of this, we are closely monitoring this process to achieve our desired program restoration in the time frame stated above.
-Al Ingraham, CEO, GBBR