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Article: Council gives tax break to theater for 7 years; Opening of Hanover is set for March 25.(LOCAL NEWS)
- Article from:
- Telegram & Gazette (Worcester, MA)
- Article date:
- December 4, 2007
CopyrightCOPYRIGHT 2007 Worcester Telegram & Gazette. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mark Melady
WORCESTER -As expected, the City Council last night approved a property tax break for the Hanover Theatre for the Performing Arts on Southbridge Street that will save the theater - scheduled to open in March - about $2.7 million in taxes over seven years.
"This was critical for us," an obviously relieved Troy Siebels, theater executive director, said after the council unanimously approved the tax break, known as tax increment financing. "I'm not sure we would have been able to function without it."
The council, acting on recommendations of its Commerce and Development Committee, also agreed to apply for a $420,000 federal ...