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Rental Rehab Seminar
July 15, 2020 @ 4:00 pm – 5:00 pm
The District will be hosting an online seminar on the Downtown Residential Redevelopment Program (DRRP) on Wednesday, July 15 at 4:00pm. The City of Quincy and The District realize that one of the most significant challenges to further development of our historic downtown is the shortage of market rate apartments. In partnership with the City of Quincy, The District continues to promote development of 2nd and 3rd floor vacant and underutilized spaces in historic downtown buildings. Confirm your attendance and to receive online instruction by emailing: info@thedistrictquincy.com
The City of Quincy is offering Tax Increment Finance (TIF) funding to assist redevelopment proposals for upper story residential renovation projects that develop market rate rental housing units. The City is requesting building owners (Building must be located in the City TIF District) to submit proposals for upper-story residential redevelopment projects that will increase market-rate housing opportunities in downtown Quincy.
Buildings located within the City TIF districts will be eligible for:
- Up to $25,000 in matching funds per market rate unit of TIF funding
- Sales tax exemption on building materials.
- Reduction of 50% of building permit fees.
The online seminar will assist developers in any questions on the program and the application process. The applications are due no later that 4pm on August 6, 2020. DRRP Schedule and Guidelines can be found online at:
https://www.quincyil.gov/home/showdocument?id=2808
https://vrapp.vendorregistry.com/Bids/View/BidsList?BuyerId=564c3981-4f90-4637-b19b-2adf858eb822