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Board approves 5-year RSA 79‑E tax relief for 1555 Elm Street conversion
Summary
The Board of Mayor and Aldermen approved a five‑year community revitalization tax relief incentive under RSA 79‑E for a proposed conversion of 1555 Elm Street into 40 market‑rate residential units and two commercial storefronts. The application drew public comment on affordability and one recorded opposition on the final vote.
The Board of Mayor and Aldermen on a special meeting approved a five‑year RSA 79‑E community revitalization tax relief incentive for a planned conversion of 1555 Elm Street into a 36,000‑square‑foot mixed‑use building with 40 market‑rate residential units and two street‑level commercial spaces.
The incentive, authorized under New Hampshire RSA 79‑E, temporarily reduces property tax liability to encourage rehabilitation or replacement of qualifying structures that provide public benefits. Jody Nazzaca, Manchester’s economic development director, told the board the project “enhances the economic vitality of the downtown” and meets the statute’s public‑benefit requirement by adding housing in the Central Business District.
Nazzaca…
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