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Council approves development agreement for Clare Crossing; consultant says incentives likely needed
Summary
Council adopted a development agreement for the Clare Crossing mixed-use project and accepted a Baker Tilly analysis that the project likely would not proceed without requested incentives, including a 1% CID sales tax and special benefit district financing.
The Gardner City Council voted to approve a development agreement for the Clare Crossing mixed-use project and to move forward with project incentives after a presentation from consultant Tom Kalinco of Baker Tilly.
The consultant’s analysis concluded that, given current market conditions and very high public-infrastructure costs, the project likely would not meet investor return benchmarks without the requested incentives. Kalinco said the total project cost rose from about $18.8 million in May 2024 to roughly $22.9 million because of higher public infrastructure costs and that the…
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