District featuring a planned new Riverwalk. “We’re proposing sub-districts to allow for more walkability,” explains Town Planner Amy Messier. “We’re really trying to include every part of what our town and that area of town has to offer to create a better environment for business and walkability and recreation for families and people of all ages.” Further momentum comes from Slades Ferry Farm’s 120-unit residential development, which will increase foot traffic. “That would increase the people around that neighborhood and then increase the walkability for a lot of people,” Messier notes. Combined with planned bicycle path extensions, these measures position downtown Somerset for sustainable commercial growth. BUSINESS INCENTIVES AND ECONOMIC DEVELOPMENT Somerset offers a robust package of financial incentives designed to attract and retain businesses. Recent changes to Massachusetts laws have streamlined the process for Tax Increment Financing (TIF) agreements. “With the state’s new Municipal Empowerment Act, we don’t have to go through the state anymore,” explains Ullucci. “So there are certain state requirements that have been removed, incentivizing businesses to expand.” The town participates in the Property Assessed Clean Energy (PACE) program, enabling commercial property owners to finance energy-efficient upgrades through property tax assessments. “It allows businesses to secure very small interest rates,” notes Ullucci about this innovative financing model. Somerset is currently working on a 50% matching grant program for businesses. A business could potentially secure thousands of dollars to gentrify a dated business front. Additionally, Somerset is designated a bio-ready community, a title both healthcare and life science companies look for. WATERFRONT DEVELOPMENT AND INFRASTRUCTURE Infrastructure improvements demonstrate Somerset’s commitment to modernization. The town allocated $2 million in ARPA funds to replace century-old 148 CIVIL AND MUNICIPAL VOLUME 06, ISSUE 07
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