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Middletown announces tax-credit closing for $43 million O & W housing project
Summary
Mayor told the council the O & W project closed on new market and historic tax credits, which, combined with state and federal credits and a Recap investment, reduce the city's net expense and allow contract awards to proceed.
Middletown’s mayor told the Common Council the city has closed on key tax credits for the O & W redevelopment project and will soon move forward with contract awards.
"We finally closed on the project," the mayor said. He described the development as a roughly $43,000,000 project and said Recap committed about $9,800,000 to the deal. He said investor groups provided new market…
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