Baltimore County Introduces Bill To Establish Commercial Revitalization District In Owings Mills, Offering Local Businesses Benefits For Exterior Improvements And Access To Tax Credits.
OWINGS MILLS - Last week, Baltimore County Councilman Julian E. Jones introduced legislation that would designate sections of Owings Mills as a Commercial Revitalization District (CRD).
Resolution No. 10-23 would establish the county’s 21st CRD on a section of Red Run Boulevard between Owings Mills Boulevard and Cherry Hill Court and a second area near a section of Reisterstown Road between Painters Mill Road and Dolfield Boulevard.
In the resolution, Jones notes that the area is already a significant employment center, and the designation is intended to support beautification projects and help area shopping centers retain tenants.
“The Owings Mills area is home to about 35,600 residents and more than 1,600 businesses and is a major employment center, drawing more than 23,000 workers each day from nearby neighborhoods and throughout the region,” the resolution states. “Façade improvements and beautification projects will help Owings Mills area shopping centers, like Cherry Valley Plaza and Hammershire Square, retain and attract tenants.”
Each CRD is staffed by a planner who works closely with the business and property owners, business associations, and the local communities to provide a range of services to maintain the health and vitality of neighborhood commercial areas.
Additionally, the designation unlocks access to four major programs to improve infrastructure, ease taxes, and revamp the area’s aesthetic.
- The Architect on Call (AOC) program offers local businesses up to 10 free hours of professional architectural design services for exterior improvements to their buildings.
- The Building Improvement Loan Program (BILP) provides $30,000 in interest-free loans, which can be used for exterior improvements such as awnings, landscaping, and signage.
- Larger projects within the CRD can access the Commercial Revitalization Tax Credit. This benefit provides a five-year real property tax credit if physical improvements increase the assessed property value by $50,000 or more. A 10-year credit is available if improvement costs exceed $10 million.
- The Commercial Revitalization Action Grant (CRAG) annually awards a $10,000 grant to business associations for projects that benefit the overall districts. Examples include holiday lighting, welcome signs, website development, street trees, security cameras, farmers’ markets, and more.
A vote on the resolution will take place on Monday, May 1.