[Adopted 5-8-2001 by Ord. No. 61]
Pursuant to Connecticut General Statute Section 8-215, the Town of Tolland hereby allows for the abatement in part or in whole of real property taxes on any housing, owned and operated by a nonprofit entity and used solely for low- or moderate-income persons or families on the terms and conditions provided herein.
The Tolland Town Council may authorize a partial or whole tax abatement of real property taxes on housing, owned and operated by a nonprofit entity, and used solely for low- or moderate-income persons or families, provided that the abatement serves one or more of the following purposes:
A. 
Reduces rents below the levels which would be achieved in the absence of such abatement and improves the quality and design of such housing; or
B. 
Effects occupancy of such housing by persons and families of varying income levels within limits determined by the Commissioner of Economic and Community Development by regulation; or
C. 
Provides necessary related facilities or services in such housing.
Any such abatement shall be made pursuant to a contract between the municipality and the owner of any 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 solely for low- or moderate-income persons or families.
If any section, clause, provision or portion of this article shall be held to be invalid by any court of any competent jurisdiction, such holdings shall not affect or impair any other section, clause, provision or portion of this article.