An Act relative to small scale commercial development for gateway cities

This bill creates a new tax incentive program called GM-TIF to encourage small-scale commercial development in specific gateway cities across Massachusetts. To qualify, a municipality must have a population between 35,000 and 250,000, a median household income below the state average, and a lower rate of college graduates than the state average. If approved by local officials and the state housing department, these cities can designate specific areas for the program and offer property tax exemptions for up to 30 years to owners who build or rent out multi-story commercial buildings. The agreements also require that 75% of the local workforce receive job training designed to keep them employed in the city, and these tax benefits are intended to pass to future property owners.