Community Revitalization Enhancement District (CRED)

A taxpayer is entitled to a credit against the taxpayer's state and local tax liability for a taxable year if the taxpayer makes a qualified investment in that year. The amount of the credit to which a taxpayer is entitled is the qualified investment made by the taxpayer during the taxable year multiplied by twenty-five percent (25%). A taxpayer may assign any part of the credit to which the taxpayer is entitled to a lessee of property redeveloped or rehabilitated.

Special incentive packages offered to private entities based on recoupment of sale tax and/or state income tax amounts.

Click here for a CRED Application (In PDF)