BofAML works with stakeholders to leverage multiple federal, state and local programs; the largest of these are the Low Income Housing, New Markets and Historic Tax Credit programs.
Low Income Housing Tax Credits - Investments in affordable housing that revitalize neighborhoods, stabilize and preserve communities, create jobs through economic development, support environmentally sustainable business activity and provide quality affordable housing for low- and moderate-income households.
Historic Tax Credits - Targeted equity investments that create housing and commercial developments of strategic importance to preserve the heritage of older, important historic buildings, stabilize older, deteriorating neighborhoods by providing capital to catalyze development and convert buildings that are detrimental to neighborhoods into valuable assets.
New Markets Tax Credits - Targeted investments in low-income communities which strive to generate permanent full-time jobs with opportunities for advancement for low-income individuals, provide vocational training for low-income individuals, bring goods and services to underserved communities and develop community facilities that provide educational, cultural, and recreational programming for residents of low-income communities.
Learn more below and watch the video to see how Baltimore renovated and reinvigorated communities using Tax Credit programs.