[Adopted 2-9-1973 (§ 17-1 of the 1974 Code)]
The Town Manager is hereby authorized and empowered to enter into a contract on behalf of the Town on terms and conditions stated in § 388-2 of this article with any owner of housing, provided that such owner is a nonprofit corporation, the construction or rehabilitation of which shall have been commenced after January 1, 1973, and which housing is solely for low- or moderate-income persons or families, as such housing is defined in C.G.S. § 8-202(c), for the abatement, in whole or in part, of real property taxes on such housing.
A.
The contract for the abatement of real property taxes
shall provide that:
(1)
The contract shall be subject to approval by the Town
Council.
(2)
Monies equal to the amount of such abatement shall
be used solely 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.
(b)
To improve the quality and design of such housing.
(c)
To effect occupancy of such housing by persons
and families of varying income levels within limits determined by
the State Commissioner of Community Affairs.
(d)
To provide necessary related facilities and
services in such housing.
(3)
Said abatement shall terminate at any time when such housing is not solely for low- or moderate-income persons or families or when said housing ceases to fulfill the purposes stated in Subsection A(2) above or the purposes stated in C.G.S. §§ 8-215 and 8-216, as said sections may be amended.
(4)
The owner shall give all assurances required by the Town Manager and by the Commissioner of Community Affairs that the amount of the tax abatement shall be used for the purposes stated in Subsection A(2) above and stated in C.G.S. §§ 8-215s and 8-216, as said sections may be amended.
(5)
The owner shall permit the Town Manager and the Commissioner of Community Affairs to inspect said premises for any reasonable purpose, including determining that said premises are being used for the purposes stated in Subsection A(2) and stated in C.G.S. §§ 8-215 and 8-216, as said sections may be amended.
(6)
The Town Manager shall review the use being made of the premises annually to confirm that the purposes set forth in Subsection A(2) above are being fulfilled.
(7)
Said abatement shall continue for a specified number
of years, not to exceed 50.
B.
The contract shall state whether or not it shall be
subject to approval by the Commissioner of Community Affairs in order
to qualify the Town for reimbursement in the form of a grant-in-aid
by the State of Connecticut, pursuant to C.G.S. §§ 8-215
and 8-216, as said sections may be amended, for the amount of tax
abatement provided under said contract.
C.
Such other terms and provisions not inconsistent with
C.G.S. §§ 8-215 and 8-216, as said sections may be
amended, may be included as deemed appropriate.
