New England Economic Development

About New England Economic Development

The Company has developed a specialty in the qualification of tax credits and their sale under the Massachusetts Brownfields program. The Company has developed the skill set to qualify the credits with the Massachusetts Department of Revenue, identify purchasers of the credits and close the transaction. The Company’s creation of an innovative formulaic TIF for the huge Westwood Station project was recognized as the only project in New England listed by the Council of Development Finance Agencies in its recently published Tax Increment Finance Best Practices Reference Guide. Retained by the City of Quincy, the Company prepared the first successful application under M.G.L. Chapter 40 (Q) (DIF). The Company has developed considerable expertise with respect to special assessment financing. Used in thirty-nine other states, Massachusetts has been able to use this valuable tool only through special legislation. The Company has been a prime force working for the adoption of the proposed Chapter 23K that would enable property owners, with municipal approval, to fund needed infrastructure improvements through special assessments or betterment fees. The has assisted projects such as SouthField, a mixed-use smart growth project located at the former South Weymouth Naval Air Station.

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