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Committee approves testimony in support of proposed increase to historic tax credit cap
Summary
Councilors authorized testimony supporting a state bill to raise the per-project historic tax credit cap from $5 million to $10 million (referred as LD 2106 / LD146). The committee voted to send the testimony to Augusta to support downtown rehabilitation projects that rely on the credit.
The Business & Economic Development Committee voted on Feb. 3, 2025 to authorize testimony in support of a state proposal to increase the per-project historic tax credit cap, a measure committee members said would help larger rehabilitation projects in Bangor.
The ordinance referenced in committee materials was described during the…
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