The Fall River City Council approved a tax increment financing plan for Millstone Medical Outsourcing LLC. The state agency that oversees T-I-F's will now take up the matter on December 13th. Fall River City Council Member Joe Camara spoke in favor of approving the T-I-F during Tuesday night's council meeting in government center.
The Fall River Re-Development Authority will realize nearly half a million dollars after a sale of 15 acres of land in the Commerce Park. The deal is the final one negotiated between the R.D.A with assistance of the Bristol County Economic Development Consultants, whose contract with the city was terminated earlier this month.
The provisions of the T-I-F agreement will begin in 2021.