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Developer seeks TIE/HDIP for small downtown redevelopment; councilors press for community outreach and site-plan approval
Summary
A developer seeking a tax-increment exemption (TIE) and state HDIP support for a 12-unit redevelopment at 103-105 Lyman Street described construction progress on another project and multiple parking options; councilors asked for more community outreach, site-plan approval, and clarified that incentives are normally drawn only after project completion.
The committee took up a request to approve a tax-increment exemption (TIE) agreement for a proposed 12-unit redevelopment at 103-105 Lyman Street that the developer said aims to rehabilitate a long-vacant, fire-damaged building.
The developer told the committee he is progressing on a separate Open Square project and proposed several parking solutions (using adjacent property he owns, repaving a partly paved lot, and…
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