(Oct. 26, 2017) Habitat for Humanity of Worcester County (HFHWC) announced the availability of $50,000 in Community Investment Tax Credits awarded by the Department of Housing and Community Development (DHCD).

The allocations of state tax-credits are used as incentives to attract contributions and leverage up to $100,000 in donations from individuals and businesses, which will go directly toward costs associated with HFHWC’s upcoming Jefferson Street Project.

The Jefferson Street Project, in downtown Berlin, will be a compact, mixed-use development offering two two-story, three-bedroom affordable-housing apartments, and two retail/gallery units on the ground floor.

The project’s location within the town’s vibrant Main Street and Arts and Entertainment districts offers a unique opportunity for artists or other creative entrepreneurs with certain income thresholds to be able to afford to live and work in the community they directly contribute to. HFHWC is currently fundraising for the project and hopes to begin construction in the third quarter of 2018.

“Our CITC Program provides great opportunities for our donors to make the most out of their charitable donation. We are very excited to be able to offer the program benefits to our donors as an incentive to attract contributions,” Andrea Canon, Resource Development Coordinator of Habitat for Humanity of Worcester County, said. “The tax-credits program can effectively direct your tax dollars back home, so it’s an amazing way to help HFHWC while also qualifying to earn tax credits equal to 50 percent of the value of your donations. It’s a win-win all around.”

Businesses and individuals that donate can qualify to earn tax credits equal to 50 percent of the value of the money, goods or real property contribution. These tax credits are in addition to the deductions on both federal and state taxes as a result of the charitable contribution. The tax credits are deducted directly from the taxes owed.

This program allows you to leverage your contribution to Habitat for Humanity by using the dollars you would have spent on your Maryland taxes to increase your contribution. The minimum donation required is $1,000. Donations in excess of $2,500 will have individual or business names engraved on a plaque to be located on the outside of the Jefferson Street building acknowledging contributions.

Individuals and businesses must use the tax credits against taxes owed for the year in which the contribution is made, for up to five years total, but may not be used retroactively for taxes from a prior year. Any individual or business contemplating making a donation is encouraged to consult with their accountant or tax professional for information about their specific tax benefits.

For more information, call Andrea Canon at 410-208-4440 ext. 2 or email acanon@habitatworcester.org.