July 30, 2015 | Updated 11:55am

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Holyoke Library Project A New Markets Tax Credit Success

Revitalized Building Helping To Revive Surrounding Area

Nothing is more encouraging than seeing one development renew a larger urban area. The $14.5 million renovation and expansion (25,000 to 40,000 square feet) of the Holyoke Public Library last fall is a watershed example. With a unique combination of financing and New Markets Tax Credits, the library is now a community resource and has contributed to the neighborhood’s transformation, as evidenced by the adjacent proposed Library Commons project, which will be introduced to the city on April 9 by HAPHousing.

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