Vacant Storefronts Program
MA Vacant Storefront Program (MVSP)
The City of Medford’s Economic Development Department submitted an application to the Massachusetts Office of Business Development to establish a Vacant Storefront District Program in Medford. This program provides state tax credits of up to $10,000 to businesses that occupy eligible storefronts that have been vacant for 12 months or more within the six districts of the Medford Vacant Storefront Districts.
Eligible Applicants
Businesses located in a vacant, first‐floor storefront within designated addresses in our six Vacant Store Front Districts are eligible to apply to the Vacant Downtown Storefronts program. Locations are considered vacant if they have been unoccupied for at least 12 months.
Financial Benefits
The Economic Assistance Coordinating Council (EACC) will award Economic Development Incentive Program (EDIP) tax credits that match the level of municipal support businesses receive for moving into vacant storefront. Refundable tax credits may be up to $5,000 with a $5,000 match from the City (using Community Development Block Grant funding) for a total award of up to $10,000. A business may only receive one award from this program.
The tax credits reduce the recipient's tax liability to the Commonwealth; to the extent the tax credit award exceeds the tax liability, the difference will be refunded to the taxpayer. The tax credits can be claimed by the business upon their next filing of a tax return with the Commonwealth.
Applications & Guidelines
Interested businesses or individuals must submit an indication of interest form before applying to the EACC by the posted deadline to be considered at the corresponding EACC meeting.
Additional Information
For more information on how to apply, contact:
Sal DiStefano
Economic Development Director