Gateway City projects receive $18.6 million in tax credits

The Executive Office of Housing and Livable Communities announced that it has approved projects in Fall River, Lawrence, Lowell, Pittsfield, Taunton and Worcester for participation in the Housing Development Incentive Program.

The projects, expected to create 662 housing units, will receive $18.6 million in state tax credits.

The July 9 announcement was made in Fall River, where Mayor Paul Coogan said the state program provides significant assistance.

“As the need for housing continues to grow, this program helps create valuable housing assets that strengthen our community,” Coogan said.

The Housing Development Incentive Program provides tax credits to support market-rate rental and homeownership projects that bolster downtowns, reuse vacant or underused buildings, and help communities expand their housing supply.

Visit the Housing Development Incentive Program website for more information.