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Fall River RDA approves $10,000 match for state vacant‑storefront tax‑credit application
Summary
The Fall River Redevelopment Authority voted to provide a $10,000 match to strengthen a state vacant‑storefront application that would allocate up to $50,000 in transferable tax credits toward filling long‑vacant commercial spaces in target downtown neighborhoods.
The Fall River Redevelopment Authority voted May 28 to provide $10,000 in matching funds to support a state vacant‑storefront “one‑stop” application that would allocate up to $50,000 in tax credits for projects to fill long‑vacant storefronts in downtown target areas.
The match, approved by roll call, is intended to make the authority’s application more competitive; the program provides tax credits to businesses occupying qualified storefronts and can operate like a reimbursement if a tenant cannot use the credits on their tax return. Sarah Page, a staff member working on the application, told the authority, “we are asking for 50,000 in tax credits,” and said the program now allows flexibility to use the full allocation on…
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