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Maryland agency seeks to codify Project Restore downtown revitalization program; no new funding in budget
Summary
The Maryland Department of Housing and Community Development asked the Ways and Means Committee to codify Project Restore, its program that subsidizes small business investment in vacant storefronts, but officials said the bill contains no new state appropriation for the program this year.
Secretary of Housing and Community Development Jake Day and DHCD program director Carrie Snyder told the Ways and Means Committee on Jan. 23 that House Bill 90 would codify Project Restore, the department’s place‑based small‑business revitalization initiative.
DHCD said Project Restore began in fiscal 2022 with American Rescue Plan funds and has supported nearly 800 small businesses and more than 1,400 jobs. Carrie Snyder testified the program received $176 million in requests for $50 million in available funds across rounds, and that DHCD has reimbursed about $28 million in expenditures tied to participating businesses’ sales and use…
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