City of Gardner AgendaPacket Finance Committee Meeting 2026-07-01
TIE Agreement Approved for 94 Pleasant Street Housing
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Description
Gardner authorized a Tax Increment Exemption agreement with Matias Capital LLC for redevelopment of 94 Pleasant Street into six market‑rate housing units. The TIE phases in property tax obligations over roughly 15 fiscal years to improve the project’s financial feasibility.
Contract Details
Vendor
MATIAS CAPITAL LLC
Agency
Gardner School District, MA
Contract Type
FINANCIAL_SERVICES
Document Date
June 30, 2026
Contract Term
Approx. FY28–FY42 phased exemption schedule per attached TIE table
Renewal Date
2042-06-30
Renewal Info
TIE schedule specifies incremental increases in taxable value from FY28 through FY42, culminating in full taxation; no additional renewal options mentioned.
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City of Gardner AgendaPacket Finance Committee Meeting 2026-07-01
City of Gardner AgendaPacket Finance Committee Meeting 2026-07-01
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