If a real estate project cannot raise sufficient funding, or is at risk of locating in another state, Rebuild Rhode Island can fill the financing gap with redeemable tax credits covering up to 20% – and, in some cases, 30% – of projects costs. Commercial office, industrial, residential, mixed use development, ground-up construction and historic rehab can qualify. A minimum project cost of $5 million and certain square footage/project size minimums may apply. Approved projects can also be exempted from sales tax on construction materials, furnishings and equipment.
Download the application to apply now.
- Rebuild Rhode Island Tax Credit Regulations
- Rebuild Rhode Island Tax Act, R.I.G.L. § 42-64.20
- Application Review and Evaluation Principles