Quincy News

Seminar planned on downtown residential development

By Herald-Whig
Posted: Jun. 11, 2019 12:01 am

QUINCY -- A one-day seminar promoting the city's Downtown Residential Redevelopment Program is planned for 5:30 p.m. Wednesday, June 19.

The seminar will be held at O'Conner Wealth Management Office, 511 Maine St. The free seminar is being sponsored by the The District and State Street Bank.

Officials with The District said one of the most significant challenges facing the city's historic downtown area is the lack of second-floor or third-floor apartments. The city of Quincy is offering tax increment finance funding to spur developers into completing renovation projects that increase the number -- and quality -- of market rate rental apartments in these spaces that officials describe as being "underutilized."

Buildings in the TIF district are eligible for up to $25,000 in matching funds per market rate unit of TIF funding, sales tax exemption on building materials and reduction of 50% of building permit fees.

City officials are requesting that downtown building owners submit proposals for upper-story residential redevelopment projects and the Downtown Residential Redevelopment Program by 4 p.m. Aug. 8. Organizers of the seminar say they will discuss common questions about the program and the application process.

To register for the seminar, email info@thedistrictquincy.com.

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