Gardner council approves amended Grand Street RHID, replaces proposed assisted‑living with senior townhomes

The Gardner City Council on July 14 approved an amended and restated development plan for the Grand Street Reinvestment Housing Incentive District (RHID) that replaces a planned assisted‑living apartment building with additional senior townhomes and keeps the district's incentive cap at $6,600,000.

City consultant Tom Kaliko of Baker Tilly reviewed an updated feasibility analysis during the council's public hearing, saying the revised forecast “is a conservative projection” and that, with some developer contribution, revenues are expected to “be sufficient … to fund the $6,600,000 in public infrastructure.” Kaliko said the RHID is a pay‑as‑you‑go incentive and that the developer bears the risk if the project does not generate the anticipated increment: “if the increment isn't generated, the developer just doesn't receive the reimbursement.”

Why it matters: the RHID provides tax‑increment‑style financing for residential development by capturing new tax revenue on increased assessed value and redirecting that increment to eligible public infrastructure costs. The amended plan reduces…