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Middletown council approves lease and assignment agreements ahead of tax-credit closing
Summary
Middletown aldermen approved three resolutions to finalize lease and assignment documents tied to a New Markets Tax Credit closing scheduled for Friday. Sponsors said the measures were minor lease cleanups and capital-improvement recaps required to complete the financing.
MIDDLETOWN — The Middletown City Council approved three resolutions on Tuesday to finalize lease and development documents the mayor’s office said are required for a New Markets Tax Credit (NMTC) closing set for Friday.
An unidentified official who spoke at the meeting said the measures were largely housekeeping items: “There were some minor changes to some of the lease… We have some recap, the capital improvement agreement. There’s 3 of them total… But we need to have it passed today so that it could…
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