Town of Monroe, CT Article IV Tax Abatement Program

[Adopted 11-27-1995 (Ch. 97, Art. IV of the 1976 Code)]

§ 470-9 Purpose.

A. The purpose of the ordinance codified in this article is to establish a tax abatement program for the Town pursuant to which the Town, acting by the Town Council, may consider and act upon a request by a party who:

(1) Owns or proposes to acquire an interest in real property within the Town; or

(2) Has or proposes to acquire a leasehold interest in real property within the Town (an "eligible party") for a tax abatement as authorized by and in accordance with the provisions of § 12-65b(a) et seq. of the Connecticut General Statutes, as amended.

B. A tax abatement may be considered by the Town Council in the following cases:

(1) Projects for the construction of new commercial/industrial/office facilities; and

(2) Renovation or improvement to existing commercial/industrial/office facilities where the project will result in an increase in the assessed value of the property (an "eligible project").

C. No tax abatement shall be considered or granted with respect to the purchase of an existing building or parcel of real property.

§ 470-10 Procedures.

A. Any eligible party proposing an eligible project may apply to the Town for a tax abatement pursuant to this article. Applications may be submitted to the First Selectman pursuant to such application forms and procedures as are determined by the First Selectman. The application shall include the following information:

(1) The name and address of the eligible party, including, without limitation, the owners or principals of any entity which is an applicant.

(2) A description of the eligible project, including surveys, plans and specifications thereof.

(3) Evidence of the applicant's qualifications to complete the eligible project and proof of the eligible party's financial responsibility to see the project to completion.

(4) Such other information as the First Selectman shall deem necessary or appropriate, including, without limitation, any information requested to be included in the application by the Tax Abatement Review Committee.

B. Upon receipt of a completed application, including all required information, the First Selectman shall forthwith refer the application to the Tax Abatement Review Committee.

§ 470-11 Tax Abatement Review Committee.

[Amended 6-20-1996]

A. The Tax Abatement Review Committee (the "Review Committee") shall be established by the Town Council and shall consist of five members designated as follows:

(1) The First Selectman.

(2) The Chairman of the Monroe Economic Development Commission.

(3) The members of the Monroe Town Council Legislative and Administrative Committee.

B. The Director of Finance and the Tax Assessor of the Town shall be ex officio members of the Review Committee.

C. The Review Committee shall consider and review each application for a tax abatement referred to it hereunder. Such review and consideration shall include, without limitation, the following:

(1) The Review Committee may, but shall not be required to, hold a public hearing with respect to any such application.

(2) The Review Committee shall investigate and determine that the applicant is an eligible party and that the application relates to an eligible project.

(3) The Committee shall investigate and determine the public benefits resulting from the project, including, without limitation, job generation, increase in the Grand List, etc.

D. Upon completion of its review of each application, the Review Committee shall forthwith prepare and deliver to the Town Council its report (the "Review Committee report"). The Review Committee report shall set forth the findings and recommendations of the Review Committee, consistent with the Connecticut General Statutes, together with supporting reasons.

E. The Review Committee may establish policies and procedures to carry out its duties hereunder, including processing and reviewing applications.

§ 470-12 Town Council action.

The Town Council shall consider and act upon each application for tax abatement hereunder submitted to it by the Review Committee. The Town Council shall consider the Review Committee report and such other information as the Town Council shall deem appropriate. The Town Council shall be required to hold a public hearing on any such application. After consideration, the Town Council may:

A. Deny the application; or

B. Approve the application with or without conditions as it shall deem appropriate and set forth the amount of tax abatement and the conditions thereof.