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Claremont Establishes Economic Revitalization Zone

 

Claremont is looking to revive part of the city economically as part of an ongoing effort to bring life back to historic and business districts.

The City Council has approved an Economic Revitalization Zone, or ERZ, on a small stretch of Maple Avenue, which includes the vacant former Claremont Savings Bank building, the National Field Representatives Office, the Maple Lanes Bowling Alley, the Hitching Post restaurant, and the vacant Goddard Bakery Building.

These businesses and buildings, as part of the ERZ, can receive tax credits and apply them against their state business taxes, according to Planning and Development Director Nancy Merrill’s statement to the Council last week.

This section of Maple Avenue is a small business hub and the establishment of the ERZ hopes to bring life back to vacant buildings and enhance what is already there.

Along with Statute 79-E, a tax relief program passed last year in the summer, works to encourage development in certain areas of town and urges rehabilitation of existing buildings.

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