SalemNews.com, Salem, MA

Local News

January 23, 2013

Tax break minimum set at 50 percent

(Continued)

The council voted 8-1 to adopt the 50-70 and 25-30 percentages, with Don Martin the only no vote.

The tax incentive must by approved by the state, but that won’t happen until the city submits a specific project to the state. One possible candidate for the tax break is a proposal by Windover Construction to demolish the former Press Box building to build apartments across the street from the train depot.

Staff writer Paul Leighton can be reached at 978-338-2675 or pleighton@salemnews.com.

Rantoul Street tax break

50 to 70 percent for the first five years

25 to 30 percent for the next five years

Exact percentage will be determined by the mayor for each project

The zone encompasses 45 parcels along Rantoul Street from Bow to Edwards streets

The historic Beverly train depot is excluded from the zone

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