A Week In Business – October 27, 2017

Biz-A-3-150x150.jpgBerlin Activities Depot and the Ocean City Chamber of Commerce hosted a grand opening ceremony and ribbon cutting this month. The business offers a learning center, a gym for recreational, developmental and competitive gymnastics programs and competitive cheerleading programs, before and after school programs, Ninja Nation and Laser Tag. Above, officials are pictured with the Solito family, owners of the complex. Photo by Jeanette Deskiewicz

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Tax Credits Offered

BERLIN — Habitat for Humanity of Worcester County (HFHWC) has announced the availability of $50,000 in Community Investment Tax Credits (CITC) awarded by the Department of Housing and Community Development.

The allocations of state tax credits are used as incentives to attract contributions and leverage up to $100,000 in donations from individuals and businesses which will go directly towards costs associated with HFHWC’s upcoming Jefferson Street project.

Located in downtown Berlin, the Jefferson Street project will be a compact, mixed-use development offering two-story, three-bedroom affordable housing apartments and two retail/gallery units on the ground floor.

“Our CITC program provides great opportunities for our donors to make the most out of their charitable donation. We are very excited to be able to offer the program benefits to our donors as an incentive to attract contributions. The tax credits program can effectively direct your tax dollars back home so it’s an amazing way to help HFHWC while also qualifying to earn tax credits equal to 50% of the value of your donations. It’s a win-win all around,” said Andrea Canon, resource development coordinator of Habitat for Humanity of Worcester County.

The minimum donation required is $1,000. Donations in excess of $2.500 will have individual or business names engraved on a plaque to be located on the outside of the Jefferson Street building acknowledging contributions.
If you are interested in these tax credits or would like more information, please call Andrea Canon at 410-208-4440 ext. 2 or email [email protected].

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Bond Funding Secured

BERLIN Atlantic General Hospital and Health System has secured bond funding totaling more than $37.5 million from the Town of Berlin and from the Maryland Health and Higher Education Facilities Authority (MHHEFA).

Of the $10 million bond issued by the Mayor and Council of Berlin, $8.5 million will be used to help pay for projects outlined in the Atlantic General’s master facilities plan, including construction of the John H. “Jack” Burbage, Jr. Regional Cancer Care Center, modernization of the hospital’s inpatient care area, expansion of the emergency department and outpatient services and modernization of their surgical facilities.

MHHEFA issued two bonds totaling $27,514,000 to the healthcare organization, with $12,225,000 to be devoted to Atlantic General’s master facilities plan, including the Atlantic General Women’s Health Center in West Ocean City. The remainder of the bond funds will be used to refinance past debt.

“These bonds, along with the community’s support through the Campaign for the Future, are essential to our efforts to provide the high quality care our patients and their families need, right here, at home,” said Michael Franklin, president and CEO of Atlantic General Hospital. “On behalf of our Board of Trustees, I want to give a special thanks to Mayor Gee Williams and the Berlin City Council. We are fortunate to have such a strong local partnership.”

Wilmington Trust, a subsidiary of M&T Bank Corporation, will serve as trustee for all three bonds, totaling $37.5 million. M&T also extended a loan totaling $1,713,000 to Atlantic General Hospital.