Historic preservation tax credits awarded to projects in Providence, Pawtucket

This property at 68-76 Dorrance St. is managed by former Providence Mayor Joseph R. Paolino Jr., who plans to convert it to four levels of micro-lofts; the first floor will remain as commercial space. Known as the Case-Mead building, it is eligible for up to $1.25 million in state historic tax credits upon completion of the rehabilitation project. / PBN PHOTO/MARY MACDONALD
This property at 68-76 Dorrance St. is managed by former Providence Mayor Joseph R. Paolino Jr., who plans to convert it to four levels of micro-lofts; the first floor will remain as commercial space. Known as the Case-Mead building, it is eligible for up to $1.25 million in state historic tax credits upon completion of the rehabilitation project. / PBN PHOTO/MARY MACDONALD

PROVIDENCE – Two rehabilitation projects, one in downtown Providence, and another in downtown Pawtucket, have received historic preservation tax credits, according to the R.I. Division of Taxation.
The five-story Case-Mead Building, 68-76 Dorrance St., Providence, which dates back to 1859, will include commercial space on its first floor and “micro” apartments on the upper four stories.
The agreement between Case Mead Associates LLC and the state agency shows it is eligible for up to $1.25 million in state historic tax credits upon completion of the rehabilitation project.
The Case-Mead Building is managed by former Providence Mayor Joseph R. Paolino Jr. The renovation is expected to cost $7.7 million, according to documents released in February by the R.I. Commerce Corp. The board authorized up to $2.2 million in Rebuild Rhode Island real estate tax credits for the project. The credit, to be paid out over five years following occupancy, represents 30 percent of the cost of the renovation, according to Commerce RI documents.
In Pawtucket, the rehabilitation of the George H. Fuller and Sons Co. building, 151 Exchange St., will include commercial space on the street level, with residential space elsewhere. The building was constructed in 1880, and is along the Blackstone River in the Exchange Street Historic District.

The agreement between Fuller Mill Realty LLC and the R.I. Department of Revenue shows that it is eligible for up to $1 million in state historic tax credits.

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