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CPA committee approves Rights Block award formatted as loan to accommodate tax‑credit rules
Summary
The Holyoke CPA committee unanimously approved a procedural change to treat the Rights Block award as a loan (rather than a grant) because historic tax‑credit treatment made a loan format more practical; solicitor, mayor and community development signed off.
The Holyoke CPA committee voted to accept a procedural change reclassifying the Rights Block award as a loan to accommodate historic tax‑credit and related financing considerations.
The committee chair said Rights Block had requested the award be formatted as a loan rather than a grant because historic tax‑credit structures commonly require that…
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