WATERVILLE — The Lockwood Mills project received what could turn into a $6 million boost on Thursday as a tax credit proposal heads toward the Maine House and Senate.

The Appropriations Committee approved the proposal, which is aimed at helping along the $56 million project.

Spearheaded by Rhode Island developer Paul Boghossian and his partner, Tom Niemann, the Lockwood Mill project would turn a complex of empty mills into housing, a restaurant, retail space and a banquet center.

The Lockwood Mill Historic District includes three mills, a powerhouse and a canal, and is the only major 19th-century textile complex in Waterville.
The project became eligible for a 20 percent federal tax credit on qualified renovations earlier this week when it was accepted on the National Register of Historic Places.

Thursday’s decision was a significant break from Maine’s usual practice of putting a $100,000 cap on the amount it will put toward matching federal tax credits, Boghossian said.

“I think it looks excellent,” he said. “We’re very enthusiastic about it.”