Rebuild Rhode Island Tax Credit Recipients
Adaptive reuse of Recognized Historic Structure that is a four-story, vacant and dilapidated mill building. Upper three floors to be converted to 56 market-rate rental apartments, ranging from studios to two-bedrooms, plus 1,600 SF of commercial office space. Ground level to be converted to indoor parking. Some environmental remediation and emergency roof repairs have been completed.
The Sponsor has requested up to a maximum of $750,000 in Rebuild Rhode Island Tax Credits and Sales and Use Tax reimbursement.
The Applicant is Richard Baccari II of Royal Oaks Realty, LLC who is also the President of Churchill & Banks a vertically integrated real estate development, property management and construction firm that has been involved in all types of commercial development projections in RI, MA, NH and others over the past 16 years.