Tax Abatement Ordinance Passes


The Town Council passed the new tax abatement ordinance by a unanimous 9-0 vote Tuesday evening. The ordinance is affective November 2nd after publication in the Waterbury Republican-American.

The ordinance gives tax credits for new and expanding businesses based upon their investment into the town and establishes a committee to review applications and ensure that certain criteria are met. Among the requirements are that specific numbers of jobs are created in relation to square footage, envionmental and zoning requirements are met. Businesses who are approved will have to maintain those requirements and report on them annually during the term of the abatement. The actual abatement agreement will have the force of a contract with the Town Council.

There were only a few clarifying questions about the ordinance asked during a pubic hearing at town hall, and almost no discussion during its adoption. Therehad been some discussion in previous Council meetings, however which led to some changes in the final draft. Councilmen O’Brien and Bokon served on the committee to draft the ordinance along with Development and Industrial Commission chairman Mark Monterosso and Town Assessor Pam Deziel.

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