City of Gloucester Awards Tax Increment Financing Contract to Granite Cove Venue (June 2023)
City of GloucesterCity · Gloucester, MA- Approved
- Jun 27, 2023
- Term
- 5 years
The 30-second brief
City Council approves Tax Increment Financing (TIF) agreement with Granite Cove Venue LLC DBA The Cut, Inc. The agreement, in accordance with the Massachusetts Economic Development Incentive Program (EDIP), provides a tax exemption for five years, ending in Fiscal Year 2029, for the property located at 177 Main Street. The Cut will be an entertainment venue for live music, comedy, film, a bar/restaurant, as well as for private functions. The applicant is investing over $10 million to renovate the former CVS building at 177 Main Street and that approximately 40 full-time jobs are expected to be created.
Granite Cove Venue holds this tax increment financing contract with City of Gloucester.
Term as filed: 5 years.
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Contract details
- Contract type
- Tax Increment Financing
- Document date
- June 27, 2023
- Term
- 5 years
- Vendor
- Granite Cove Venue
- Agency
- City of Gloucester
- Source document
- gloucester_city_council_meeting_minutes_june_27_20.pdf (Minutes)
Granite Cove Venue's other public contracts
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Questions about this contract
Who was awarded the tax increment financing contract by City of Gloucester?
Granite Cove Venue was awarded this tax increment financing contract by City of Gloucester, as recorded on June 27, 2023.
What type of contract is this?
This is a Tax Increment Financing contract, documented as a minutes record.
Where was this contract approved?
This contract appears in gloucester_city_council_meeting_minutes_june_27_20.pdf (Minutes), dated June 27, 2023 from City of Gloucester. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
What other contracts does Granite Cove Venue hold?
Granite Cove Venue may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
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