CONTRACTAPPROVED

Town of Salem Awards Tax Increment Exemption Agreement Contract to Residences on Canal Street (June 2024)

Approved: Jun 25, 2024
Term: 10 years

What it covers

The City of Salem approved a Tax Increment Exemption Agreement with The Residences on Canal Street, LLP, granting a 20% exemption for 10 years to support a project that includes 200 market-rate housing units and 50 affordable units at 60% of AMI.

Who holds it

Residences on Canal Street holds this tax increment exemption agreement contract with Town of Salem. Its other public contracts on record include work for City of Salem.

What happens next

Term as filed: 10 years.

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Contract details

Contract type: Tax Increment Exemption Agreement
Document date: June 25, 2024
Term: 10 years
Vendor: Residences on Canal Street
Agency: Town of Salem
Source document: town-of-salem-meeting-minutes-2024-06-25_c3b.pdf (Meeting Minutes)

Residences on Canal Street's other public contracts

City of Salem, MassachusettsSewer Easement Relocation approved for Canal Street Project. · Sep 11, 2025Undisclosed City of Salem, MassachusettsLLP authorized for Easement Relocation on Canal Street · Sep 11, 2025Undisclosed City of Salem, MassachusettsSewer easement relocation approved for Canal Street project · Sep 11, 2025Undisclosed City of Salem, West VirginiaSalem approves easement for Residences on Canal Street · Jun 26, 2025Undisclosed City of Salem, MassachusettsEasement to The Residences on Canal Street, LLP · Jun 26, 2025Undisclosed All Residences on Canal Street contractsVendor profile

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Questions about this contract

Who was awarded the tax increment exemption agreement contract by Town of Salem?

Residences on Canal Street was awarded this tax increment exemption agreement contract by Town of Salem, as recorded on June 25, 2024.

What type of contract is this?

This is a Tax Increment Exemption Agreement contract, documented as a meeting minutes record.

Where was this contract approved?

This contract appears in town-of-salem-meeting-minutes-2024-06-25_c3b.pdf (Meeting Minutes), dated June 25, 2024 from Town of Salem. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Residences on Canal Street hold?

Residences on Canal Street 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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