28 June 2024- The Maryland Department of Housing and Community Development today announced it has issued $34.8 million in bonds through the Local Government Infrastructure Finance (LGIF) Program to support infrastructure improvement efforts across the state.
DHCD’s Community Development Administration administers the bonds on behalf of counties, municipalities and/or their instrumentalities to finance projects that serve the community at large, such as streetscape improvements, transportation enhancements or water and sewer treatment facilities.
The financing through the Department will help local governments bring the following projects to fruition:
- Berlin – $1,000,000 to fund electrical system meter replacement and upgrades, and $2,800,000 to fund the construction of a new public works facility.
- Cumberland – $529,405 to fund the purchase of vehicles, equipment, $591,713 to fund the acquisition of heavy equipment, and $2,087,193 to fund building and facility improvements.
- Laurel – $1,850,000 to fund vehicle and equipment purchases, $3,462,243 to fund street improvements, and $2,750,000 to fund facility improvements.
- Leonardtown – $6,000,000 to fund the construction of a new water storage tank and well.
- St. Mary’s Metropolitan Commission – $11,257,216 to fund water and sewer system improvements.
- Thurmont – $400,000 to fund the acquisition of a new bucket truck, and $3,600,000 to fund electrical system improvements.
“We are pleased to offer this kind of financial support to our local governments for infrastructure improvement in their communities,” said DHCD Secretary Jake Day. “Our Local Government Infrastructure Finance program is an important tool to ensure we leave no one behind in Maryland. We’re also grateful for partners such as McKennon, Shelton & Henn, People First, Caine Mitter, and Wilmington Trust for their hard work and diligence to make this happen.”
Whether funds are needed for a $150,000 effort or a $10 million project, Local Government Infrastructure Financing is a convenient and streamlined resource for local governments that:
- Want to secure long-term capital financing with advantageous terms;
- Do not routinely issue bonds; and
- Have limited resources to initiate financing on their own.
Local governments must secure local legislative approval to receive the financing.
To see a full list of awards, click here. For more information on the Local Government Infrastructure Financing program, click here.
