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No Firm Answers in Funding for Footer Building

March 18th, 2015 by WCBC Radio

With time running out on several fronts, there are still no firm answers about the possibility of state capital dollars for the Footer Dye Works project- and thus it  remains in limbo.  The lack of commitment by the state to fund $1.2 million to update the historic Footer building has placed a $9 million redevelopment package slated for the historic property in jeopardy. Time is becoming an issue , since state funding must be secured by the time the Maryland General Assembly adjourns on April 13. And today (Wednesday)  is the deadline for project developer Michael Joy to come up with $60,000 to pay to the Maryland Historical Trust to maintain the tax credits.  Joy, who received tax credits from the state for the project, is required to pay a 3 percent fee (of the total tax credit amount) to keep the credits.  During Tuesday afternoon’s monthy meeting of the Canal Place Preservation and Development Authority, chairman Rick Thayer maintained optimisim noting that the legislative delegation is making every effort to secure state funds…





 

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