15-Year Tax Rebate Deal Approved for ZeroPak Housing

The Winchester City Council approved an agreement with ZeroPak Owner LLC and the Winchester Economic Development Authority to provide 15 years of annual grant payments equal to the incremental property tax value above the 2025 baseline, incentivizing the redevelopment of the ZeroPak site into affordable workforce housing. The incentive, delivered as tax rebates each year, supports the creation of 120+ income-restricted units. The EDA and Council both approved the deal in Spring 2026.

Scope & details

The full contract record, as filed.

Contract amount

15 years' incremental property tax rebates (difference between CY25 assessment baseline and post-completion reassessment property tax)

Contract type

OTHER

Contract term

15 years (First Taxable Period: calendar year following completion in February 2026; then 14 succeeding years)

Renewal date

2041-12-31

Renewal

Agreement term is fixed at 15 years but may be extended if the City fails to appropriate funds in a given year. Amendments require all parties' consent, subject to lender approval.

Document type

AgendaPacket

Source document

City of Winchester City Council - Finance Committee Agenda Packet 2026-06-02

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the government contract by City of Winchester?

Zeropak Owner Llc was awarded this government contract by City of Winchester, as recorded on June 2, 2026. The contract value is 15 years' incremental property tax rebates (difference between CY25 assessment baseline and post-completion reassessment property tax).

How much is the Zeropak Owner Llc contract with City of Winchester worth?

The Zeropak Owner Llc contract with City of Winchester is valued at 15 years' incremental property tax rebates (difference between CY25 assessment baseline and post-completion reassessment property tax).

What type of contract is this?

This is a government contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in City of Winchester City Council - Finance Committee Agenda Packet 2026-06-02 (AgendaPacket), dated June 2, 2026 from City of Winchester. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Zeropak Owner Llc hold?

Zeropak Owner Llc 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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