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Board refers Whale Street condo tax-stabilization request back to Community and Economic Development committee
Summary
A request to stabilize municipal property taxes for a six-unit conversion at 24 Whale Street was referred back to committee after discussion about timing, TIF boundaries and required details; developer Claire Purcell said closing is scheduled this week and delay could postpone unit availability.
Claire Purcell, a downtown property owner and developer, told the Board of Aldermen on March 17 she is converting vacant commercial office space at 24 Whale Street into six 1‑ and 2‑bedroom apartments and has financing in place from VHFA and local loan funds. Purcell said she is seeking confirmation of the municipal tax-stabilization agreement needed to close a financing package and hoped the…
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