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City economic-development staff describe rent-rebate program: $500/month first year, $250 second year; $50,000 annual allocation
Summary
OECD officials told the council Taunton's rent-rebate program provides $500 monthly for a new business's first year and $250 monthly in year two, targets vacant storefronts in three focus areas and operates within an approximately $50,000 annual allocation; staff named participating businesses and said the program is continually adjusted.
City economic-development officials described the rent-rebate program and its role in recruiting and stabilizing small businesses. Jay Patekis, executive director of the Office of Economic and Community Development, said the program was created in March 2016 and has been adjusted over time. "The businesses ... secure $500 a month for the first year and $250 a month for the second year," Patekis said, and…
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