Housing Development Incentive Program (HDIP)

City of Lowell

Department of Planning & Development: Notice of Public Hearing

A public Hearing will be held on Tuesday, December 14th, 2021 at 5:30 PM to seek input on a proposed amendment to the Housing Development (HD) Plan related to the Commonwealth’s Housing Development Incentive Program (HDIP) per M.G.L. Chapter 40V. This meeting will occur in-person with the option to join remotely. You can choose to attend in-person in the Arthur Hammar Conference Room, DPD, JFK Civic Center, 50 Arcand Drive, 2^nd Floor, Lowell, MA or you can choose to attend remotely by calling 978.674.1435 or emailing Maria Dickinson mdickinson@lowellma.gov at least one (1) hour prior to the meeting to register and receive the zoom link, or phone number to call in. 

You can review the proposed amendment to the HD Plan here

Read the 12/14/2021 City Council motion response regarding this proposed amendment here.

You can review the full HD Plan below. 

The Housing Development Incentive Program (HDIP), established as M.G.L., Chapter 40V, provides Gateway Cities such as Lowell with financial and tax incentive tools to increase residential growth, expand diversity of housing stock, promote neighborhood stabilization, and ultimately generate local and regional economic development.
The HDIP program provides two tax incentives to developers to undertake substantial rehabilitation of properties for lease or sale as multi-unit market rate housing:
 

• A municipal  real estate tax exemption on all or part of the increased property value resulting from improvements (the increment), and
• State tax credits for Qualified Substantial Rehabilitation Expenditures (QSREs) that are awarded through a rolling application process.