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TIF board unanimously approves tax-increment exemption for 295 Bedford Street mixed-use project
Summary
At its March 19, 2025 meeting the Fall River Tax Increment Financing Board approved a tax-increment exemption for 295 Bedford Street, a mixed-use development that will include an adult day center on the ground floor and 52 rental units above. Board members said approval is required for the developer to apply for state HDIP tax credits.
The Fall River Tax Increment Financing Board unanimously approved a tax-increment exemption for 295 Bedford Street, LLC at its March 19, 2025 meeting, clearing a local requirement the developer said is necessary to pursue state tax credits that are part of the project's financing.
City staff and the project applicant told the board the proposal is a mixed-use building with commercial space on the first floor that will be leased to an adult day center and 52 residential rental units on the floors above. The applicant described the total project cost as just over $20,000,000 and said the site is in a federal opportunity zone and a distressed census tract.
Cara, a…
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