10.6.2026 Tax Increment Financing Board

The Fall River Tax Increment Financing Board meeting on October 6, 2026, included approval of the August 25 minutes and three TIF applications for residential redevelopment. The board approved a proposed 49-unit project on the former Sylvia School site, described as an approximately $21 million investment. Its unit mix may change depending on whether HOME funding is secured; the agreement provides for a 90–100% market-rate-unit share to be confirmed at completion. The board also approved TIF agreements for Charlton Mill Lofts LLC on House Street, a 147-unit mill rehabilitation, and Connell Lofts LLC at the former Connell School, a 16-studio conversion estimated to cost just over $4 million. Each agreement was described as providing an 80% exemption for the first five years and 20% for the next five years.

The applications passed by roll-call votes. The House Street project was reported to produce about $65 million in growth in property value, with its corrected base value stated as $757,600; the former Connell School’s base value was stated as $743,100. The projects reuse vacant or blighted properties, and the Connell project is pursuing state and federal historic tax credits. The first project was expected to proceed to City Council and state review; the transcript also indicated further City Council approvals for the projects. No vendor or procurement contract awards were discussed.