An Act relative to small scale commercial development for gateway cities

This bill allows cities and towns in Massachusetts with populations between 35,000 and 250,000, lower than average income, and lower than average education levels to create special tax zones for commercial development. Under the new rules, these municipalities can offer property tax breaks of up to 100% for up to 30 years to encourage the construction of multi-story commercial rental buildings in designated areas. To qualify for these tax incentives, property owners must sign agreements that include requirements such as providing job training for 75% of the workforce and ensuring the deal remains in effect if the property is sold to a new owner. The plan must be approved by the state secretary of housing and community development to ensure it aligns with public goals for retaining or increasing industrial activity in these specific gateway areas.