Economic Development Lending
Community and Economic Development Loan: $45,000,000 (over 2 years)
The Community and Economic Development Loan would provide up to $45 million to be used for activities that promote economic and neighborhood development. This loan supports activities that revitalize neighborhoods, create jobs, and increase tax revenues for the City. For example, funds will be used to support redevelopment efforts from Coldstream Homestead Montebello to Lexington Market; eliminate blight through strategic whole block demolition; leverage federal investment to build affordable housing; provide financing and incentives for private investment; and improve the appearance of commercial and industrial areas. The funds would allow for the planning, development, and execution of community development programs, including making grants and loans to organizations working to improve the City. In the past, this type of loan has been used to fund activities from the Department of Housing and Community Development, the Baltimore Development Corporation, the Downtown Partnership of Baltimore, and certain cultural agencies such as the Maryland Science Center and the Creative Alliance.
Below are links to some local resource organizations that provide economic development funding:
Still have questions?
Of course, if you have questions on financing options and would like to visit with someone, call us at 410-984-3337. We can answer your questions and connect you to the resources you need.