At the Fall River City Council Session Tuesday evening a resolution was sent to a future finance committee session that seeks to “rescind all remaining streetscape bond authorizations and authorize bonding for roadway infrastructure improvements."
Several people spoke at citizen’s input in favor of the continuation of the initiative.
City Council Member Shawn Cadime said ultimately the idea of streetscapes was a failure.
"I think streetscapes in itself was just a disaster,” he said. “There were some benefits to it but when we look at the amount of money we invested in the infrastructure and what we got out of it, is a bit lacking.”
Cadime claimed the council is trying to do things the right way.
“This council is looking to just make sure that any new projects we start working on whether it be streetscapes or under any other name that its done properly in a coordinated effort."
The council also approved a pair of tax increment exemptions for a pair new apartment buildings near downtown Fall River.
One is for Downtown Development Companies LLC located at 30 Third Street as explained by the City Administrator.
"I would advise the city council just that back in April you approved a T.I.E agreement for the Downtown Development Group and we're pleased to say their project has been especially successful," Cathy Ann Viveiros said.
This project will cost $5.5 million and will build out 18 new market rate apartments.
The second T.I.E agreement will be located in the 700 block of Davoil Street and will be cost double.
"This project represents an investment of eleven million dollars in total and they will actually be creating forty-nine units and forty of those market-rate with nine as affordable units," Viveiros told the Council.
Both projects could be complete within a year.