November
22
2012
LOWELL --- The state Department of Housing and Community Development has approved the City of Lowell's plan to utilize a new tax-incentive program to boost creation of market-rate housing downtown. The approval - made under the state's new Housing Development Incentive Program --- means developers of eligible projects in the city center can apply for state tax credits and city tax breaks for building market-rate units. Lowell is the second city after Pittsfield to have a zone and plan approved by the state.