Massachusetts Governor Maura Healey was in Fall River on Friday to promote the millions of dollars in tax incentives for homeowners, renters and housing developers.
The Governor toured the apartments at Adams House, a former nursing home converted into 34 market-rate housing units.
The property on Highland Avenue was renovated with the help of the state’s Housing Development Incentive Program (HDIP) which was expanded in the recently passed FY 2024 state budget.
Along with more investment in HDIP, the governor announced that as part of the $1 billion tax cut package approved by the legislature this year, there is an increase in the rental deduction cap from $3,000 to $4,000 to aid renters in Fall River and across the state.
She also said that before the legislature is a $4.1 Affordable Homes Act which will preserve and modernize nearly 70,000 homes across the state to lower the cost of housing.
Ken Fiola of Bristol County Economic Development Consultants, which works with the city on economic development projects, says the HDIP program has been a game changer in re-shaping housing in Fall River and making it more attractive to middle-class families.
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