[Adopted 5-8-1990]
[1]
Editor's Note: This article is adopted pursuant
to C.G.S. § 8-215.
The Town Council may, by resolution, provide
for the abatement in part or in whole of real property taxes on any
housing (including buildings and related improvements) owned and operated
by a nonprofit organization and situated on Town-owned property so
long as said housing is used solely for low- or moderate-income persons
or families.
As used in this article, the following terms
shall have the meanings indicated:
Housing which is subject to regulation or supervision of
rents, charges or sale prices and methods of operation by a governmental
agency under a regulatory agreement or other instrument which restricts
occupancy of such housing to persons or families whose incomes do
not exceed prescribed limits.
Such tax abatement shall be used for one or
more of the following purposes:
A.
To reduce rents below the levels which would be achieved
in the absence of such abatement and to improve the quality and design
of such housing.
B.
To effect occupancy of such housing by persons and
families of varying income levels within limits determined by the
State Commissioner of Housing by regulation.
C.
To provide necessary related facilities or services
in such housing.
Such abatement shall be made pursuant to a contract
between the municipality and the owner of such housing, which contract
shall provide the terms of such abatement, that moneys equal to the
amount of such abatement shall be used for any one or more of the
purposes herein stated and that such abatement shall terminate at
any time when such housing is not used solely for low- or moderate-income
persons or families.
