The Community Revitalization Tax Relief Incentive (RSA 79-E) Program allows the City to provide a temporary period of limited tax relief for property owners who wish to undertake substantial rehabilitation of a qualifying structure which will provide at least 1 public benefit.
The general goal of the Economic Revitalization Zones (ERZs) Tax Credit program is primarily to encourage retention and growth of existing businesses and the reuse of existing buildings.
In November 2016, the City completed the Downtown Visioning Study, which presented a preferred vision, suggested actions and strategies, and outlined recommendations for financing mechanisms to achieve the near-term and long-term elements of the plan. Among the financing mechanisms was the use of Tax Increment Financing (TIF) as a way to fund downtown infrastructure improvements. A preliminary financial analysis, developed as part of the Visioning Study, indicated that a TIF District in downtown Lebanon had the potential to fund many of the improvements recommended in the plan. The Visioning Study concluded that the next step should be to undertake a Feasibility Study that would address the specific statutory requirements for consideration of a TIF District.