LEE — Developers have cleared one more hurdle in the estimated $60 million redevelopment of the Eagle Mill complex after securing $400,000 of historic rehabilitation tax credit funds.
Under contract since 2012 and acquired in 2017, Eagle Mill Redevelopment LLC has had its sights set on restoring the mill back to a prominent place in the community, said Jeff Cohen, principal developer of the project.
“This gives us tremendous capability and credibility,” said Cohen to a crowd that had gathered to hear the developer’s announcement.
Among those gathered for the presentation were U.S. Rep. Richard E. Neal, D-Springfield; state Sen. Adam Hinds, D-Pittsfield; and state Rep. William “Smitty” Pignatelli, D-Lenox, as well as local select and planning board members.
Receiving the tax credits was a milestone for the project and would not be possible without the assistance of Neal and his staff, said Cohen.
“Massachusetts historic tax credits are essential for the economic feasibility of the project and because of Congressman Neal’s facilitation of the project, we will be able to deliver affordable housing, market rate housing, a new hotel, a joyous community-orientated food hall, office and retail space, and hundreds of new jobs to the Town of Lee,” he said.
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