Two Lafayette Square-Area Redevelopment Projects Win Temporary Tax Relief

Developer Jonathan Cody of Atlantis Investments and his lawyer, Russell S. Channen during a February 2020 meeting. (WHAV News photograph.)

The Haverhill City Council gave its approval this week to two tax breaks to aid in the redevelopment of two separate properties in the city.

The first is for the redevelopment of the former St. Joseph’s School, just off Lafayette Square. That plan calls for the construction of 36 market rate apartments. The second project will see new construction of a three-story building at 42 Lafayette Square, which will include 13 apartments and a commercial space on the first floor.

Those tax breaks are part of a Massachusetts Housing Development Incentive Program designed to encourage development in gateway cities such as Haverhill. Haverhill’s Community Development Division Director Andrew K. Herlihy explained.

“This is the same regular tax increment financing tie agreement that is required by the state. So, if you do an HDIP program, the city is required to offer some skin in the game, offer its own tax break. We’ve done the same tax break for everybody,” he said.

The Council approved both requests by votes of 8-0 with Councilor Joseph J. Bevilacqua abstaining because he serves on the state board that approves tax increment financing proposals.

Both projects also received special permits from the Council last year.

In another matter, the Council was scheduled to hear plans for the development of a 54-acre parcel in East Haverhill. Those plans call for the development of 66 detached condominium homes in Snowcrest Farm. However, Attorney Michael J. Migliori, representing the project developer, requested a delay until Oct. 5, while the developer continues discussions with neighbors affected by the project.

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