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Service Description: The City of Gaithersburg applied to the State of Maryland Department of Commerce for designation of the Olde Towne area as an enterprise zone. The State approved the City's application on June 15, 2008, with the enterprise zone designation expiring on June 14, 2018. The City adopted local standards for the administration of the enterprise zone by Resolution R-68-10. The initial enterprise zone includes most, but not all, of the property zoned CBD. In 2010, the City applied to the State to expand the area within the enterprise zone to include property along Frederick Avenue and the Hidden Creek Apartments (Resolution R-67-10). The State approved the expanded area in 2010 and the City adopted an amendment to the local standards by Resolution R-68-10, requiring properties within the expansion area to provide affordable housing in conformance with the Adequate Public Facilities section of the Zoning Ordinance, but retaining all of the other benefits of the original local standards. The enterprise zone program provides several incentives for businesses to locate or expand within the zone, including income tax credits and real property tax credits. More information is available at the two links below. http://www.growgaithersburg.com/program-incentives/city-incentives/Olde%20Towne%20Enterprise%20Zone http://commerce.maryland.gov/fund/programs-for-businesses/enterprise-zone-tax-credit

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Description: The City of Gaithersburg applied to the State of Maryland Department of Commerce for designation of the Olde Towne area as an enterprise zone. The State approved the City's application on June 15, 2008, with the enterprise zone designation expiring on June 14, 2018. The City adopted local standards for the administration of the enterprise zone by Resolution R-68-10. The initial enterprise zone includes most, but not all, of the property zoned CBD. In 2010, the City applied to the State to expand the area within the enterprise zone to include property along Frederick Avenue and the Hidden Creek Apartments (Resolution R-67-10). The State approved the expanded area in 2010 and the City adopted an amendment to the local standards by Resolution R-68-10, requiring properties within the expansion area to provide affordable housing in conformance with the Adequate Public Facilities section of the Zoning Ordinance, but retaining all of the other benefits of the original local standards. The enterprise zone program provides several incentives for businesses to locate or expand within the zone, including income tax credits and real property tax credits. More information is available at the two links below. http://www.growgaithersburg.com/program-incentives/city-incentives/Olde%20Towne%20Enterprise%20Zone http://commerce.maryland.gov/fund/programs-for-businesses/enterprise-zone-tax-credit

Copyright Text: City of Gaithersburg

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Title: layers.aprx
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Comments: The City of Gaithersburg applied to the State of Maryland Department of Commerce for designation of the Olde Towne area as an enterprise zone. The State approved the City's application on June 15, 2008, with the enterprise zone designation expiring on June 14, 2018. The City adopted local standards for the administration of the enterprise zone by Resolution R-68-10. The initial enterprise zone includes most, but not all, of the property zoned CBD. In 2010, the City applied to the State to expand the area within the enterprise zone to include property along Frederick Avenue and the Hidden Creek Apartments (Resolution R-67-10). The State approved the expanded area in 2010 and the City adopted an amendment to the local standards by Resolution R-68-10, requiring properties within the expansion area to provide affordable housing in conformance with the Adequate Public Facilities section of the Zoning Ordinance, but retaining all of the other benefits of the original local standards. The enterprise zone program provides several incentives for businesses to locate or expand within the zone, including income tax credits and real property tax credits. More information is available at the two links below. http://www.growgaithersburg.com/program-incentives/city-incentives/Olde%20Towne%20Enterprise%20Zone http://commerce.maryland.gov/fund/programs-for-businesses/enterprise-zone-tax-credit
Subject: Boundary of the initial and expanded Enterprise Zone areas within the City of Gaithersburg, as designated by the State of Maryland on June 15, 2008 and expanded in 2010.
Category:
Keywords: Gaithersburg,Maryland,Enterprise Zone,Economic Development,Tax Credit,Olde Towne,Frederick Avenue
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