Annapolis, MD – DHCD will counsel an estimated 19,000 homeowners facing foreclosure and assist 185 new or expanding small businesses under Governor O’Malley’s proposed FY 2013 budget.
The governor presented his proposal on Jan. 18, saying it invests in job creation and its key ingredients: education, innovation and rebuilding Maryland’s infrastructure. Learn more about the governor’s budget.
“Our budget is a pro-jobs, pro-opportunity, pro-growth budget that takes a balanced approach of cuts, revenue and investment,” Governor O’Malley said in a release.
The proposal maintains state spending for DHCD’s programs. It includes significant new resources to help low income Marylanders reduce energy expenses through the agency’s Weatherization Assistance Program and more than $33.7 million for the neighborhood revitalization division, including programs that support the governor’s Smart, Green and Growing priorities. The FY 2013 allowance includes $7 million for Sustainable Community Tax Credits that support revitalization projects in historic areas and existing communities; $6 million in the Community Legacy program to support mixed use development projects, streetscape and structural façade improvements in those communities and $5 million in the capital budget for bond-funded competitive awards to assist with redevelopment and revitalization in targeted distressed communities.
The $4.25 million slotted for the Neighborhood BusinessWorks program will assist 185 businesses and support the creation or preservation of 800 jobs.
The capital budget also includes $15 million for the Rental Housing Works program that the governor unveiled on Jan. 12. That initiative will support an estimated 1,100 jobs. See highlights.