[Adopted 12-3-2003 (§§ 13 1/2-3 and
13 1/2-4 of the 1974 Code)]
A.
Authority. In accordance with C.G.S. § 12-65b,
the Town of Ridgefield does hereby provide for the abatement of assessment
increases attributable to construction or improvements to real property
or air space within the Town as specified herein.
B.
Eligibility. An application to the Town for an abatement of assessment increases for real property, air space and all improvements thereon or therein and to be constructed thereon or therein may be made by any party owning or proposing to acquire an interest in real property, or any party owning or proposing to acquire an interest in air space, or any party who is the lessee of, or who proposes to be the lessee of, air space in such a manner that the air space leased or proposed to be leased shall be assessed to the lessee pursuant to C.G.S. § 12-64. In order to be eligible for the benefits provided by this section, upon receipt of a report from the Assessor as provided in Subsection C(3) below, the Board of Selectmen shall find that:
(1)
The applicant proposes to use the construction or
improvements to real property (or property subject to air rights)
for offices or manufacturing;
(2)
The real property or property subject to air rights
is not delinquent in the payment of taxes owed to the Town;
(3)
The applicant proposes to enter into a written agreement
with the Town abating the assessment increase of the real property,
air space and all improvements thereon or therein and to be constructed
thereon or therein upon such terms and conditions as are provided
for herein and therein;
(4)
The applicant currently owns or has under contract
to purchase and/or occupies or proposes to construct not less than
500,000 square feet of office and/or manufacturing space in the Town
of Ridgefield;
(5)
Construction cost or improvements shall have a value
of not less than $75,000,000; and
(6)
New personal property purchases shall be not less
than $50,000,000.
C.
Filing of application.
(1)
All applications shall be submitted to the Assessor
on forms supplied by the Assessor's office. Each such application
shall include the applicant's estimate of the cost of the construction
or improvements subject to an assessment increase abatement hereunder.
(2)
All applications shall include a tax impact report
comparing actual taxes as non-abated for the improvements being proposed
and those as abated.
(3)
The Assessor shall review each application submitted to him and shall forward each such application to the Board of Selectmen within 45 days of receipt, together with his report concerning whether or not the application meets the eligibility criteria contained in Subsection B hereof.
(4)
Upon receipt of an application and report from the
Assessor, the Board of Selectmen shall either approve the application,
reject the application, or return the application to the Assessor
for further information. If an application is rejected, the applicant
may file a revised application with the Assessor which addresses the
reasons for rejection by the Board of Selectmen.
(5)
In the event of approval, the Board of Selectmen shall submit the application and a proposed agreement as provided in Subsection D hereof to a Town Meeting for the purpose of voting on said application and agreement and, in the event of approval, to authorize the First Selectman to enter into the agreement. The agreement as approved shall be subject to a final review by the Board of Selectmen prior to its execution.
D.
Assessment increase abatement agreement. The assessment
increase abatement agreement shall provide as follows:
(1)
The agreement shall be signed by the applicant and
the First Selectman on behalf of the Town, shall refer to and incorporate
the application as approved by the Board of Selectmen and the Town
Meeting, shall reflect the assessment on the property immediately
prior to the commencement of construction, and shall specify the period
of abatement, which shall begin with the issuance of a certificate
of occupancy for the improvements to be constructed.
(2)
Upon completion of construction or improvements made
in accordance with the terms of the agreement, and upon certification
by the Assessor, as hereinafter set forth, and upon issuance of the
certificate of occupancy, as provided above, the increase in the assessment
on the property due to such construction or improvements shall be
abated as follows: for proposed construction or improvements which
value not less than $75,000,000, up to 85% of the increased assessment
may be abated each year, for a period not to exceed seven years.
(3)
Such construction or improvements shall be completed
by a date fixed in such assessment increase abatement agreement. The
agreement shall further provide that a property owner or lessee, as
herein provided, may apply to the Assessor for an extension of time
within which to complete the construction or improvements which, for
good cause shown, the Assessor may approve, but in no event shall
such extension of time exceed a period of one year.
(4)
Default.
(a)
An event of default under the agreement shall
include, but shall not be limited to, the occurrence of any one of
the following events:
[2]
There is any delinquency in the payment of taxes
on the property or improvements or on the personal property located
on or within the property or improvements; and
[3]
The property or the improvements or all of the
personal property located on or within the property or improvements
is sold or transferred or leased to an entity other than the applicant.
(b)
If, at any time, the Assessor determines that the owner or lessee of the property is in default under any of the terms of the agreement, other than Subsection D(4)(a)[3] hereof, and has failed to cure said default after notice and an opportunity to do so, the agreement shall terminate. In the event of such termination, the owner or lessee, as the case may be, shall be liable for increases in taxes, on a prorated basis, in the assessment year in which said event occurs, as if the agreement had not been executed.
(c)
If, however, the Assessor determines, at any time, that the owner or lessee of the property is in default under Subsection D(4)(a)[3] hereof, the agreement shall terminate, without notice, and the owner or lessee, as the case may be, shall be liable for any increase in taxes for which he would have been liable in the absence of this agreement.
E.
Administration.
(1)
The Assessor is authorized to establish written procedures
and technical specifications for the administration of this section.
(2)
Any agreement entered into under the provisions of
this section shall be recorded on the land records of the Town.
(3)
A copy of any assessment abatement agreement entered
into pursuant to the provisions of this section shall be forwarded
to the Assessor, who shall adjust the Assessor's records accordingly.
(4)
The Assessor shall have the sole responsibility for
determining the cost and value of the construction or improvements
subject to an abatement of assessment increases hereunder in accordance
with Connecticut General Statutes.
A.
Authority. In accordance with C.G.S. § 12-65h,
the Town of Ridgefield does hereby provide for the abatement of assessment
increases attributable to the acquisition of such personal property
within the Town as specified herein.
B.
Eligibility. An application to the Town for an abatement of assessment increases for personal property located in a manufacturing facility, as defined in C.G.S. § 12-81(72), may be made by any party owning or proposing to acquire an interest in real property, or any party owning or proposing to acquire an interest in air space, or any party who is the lessee of, or who proposes to be the lessee of, air space in such a manner that the air space leased or proposed to be leased shall be assessed to the lessee pursuant to C.G.S. § 12-64, upon which is located or proposed to be located such a facility. In order to be eligible for the benefits provided by this section, upon receipt of a report from the Assessor as provided in Subsection C(3) below, the Board of Selectmen shall find that:
(1)
The applicant proposes to enter into a written agreement
with the Town abating the assessment increase attributable to personal
property located within a manufacturing facility, as defined in C.G.S.
§ 12-81(72), upon such terms and conditions as are provided
for herein and therein; and
C.
Filing of application.
(1)
All applications shall be submitted to the Assessor
on forms supplied by the Assessor's office. Each such application
shall include the applicant's estimate of the value of the personal
property subject to an assessment increase abatement hereunder.
(2)
All applications shall include a tax impact report
comparing actual taxes as non-abated for the personal property and
those as abated.
(3)
The Assessor shall review each application submitted to him and shall forward each such application to the Board of Selectmen within 45 days of receipt, together with his report concerning whether or not the application meets the eligibility criteria contained in Subsection B hereof.
(4)
Upon receipt of an application and report from the
Assessor, the Board of Selectmen shall either approve the application,
reject the application, or return the application to the Assessor
for further information. If an application is rejected, the applicant
may file a revised application with the Assessor which addresses the
reasons for rejection by the Board of Selectmen.
(5)
In the event of approval, the Board of Selectmen shall submit the application and a proposed agreement as provided in Subsection D hereof to a Town Meeting for the purpose of voting on said application and agreement and, in the event of approval, to authorize the First Selectman to enter into the agreement. The agreement as approved shall be subject to a final review by the Board of Selectmen prior to its execution.
D.
Assessment increase abatement agreement. The assessment
increase abatement agreement shall provide as follows:
(1)
The agreement shall be signed by the applicant and
the First Selectman on behalf of the Town, shall refer to and incorporate
the application as approved by the Board of Selectmen and the Town
Meeting, shall reflect the assessment on the personal property on
the date of the agreement, and shall specify the period of abatement,
which shall begin with the completion of the acquisition of the personal
property.
(2)
The agreement shall establish a fixed date for the
completion of the acquisition of the personal property with respect
to which the assessment increase is to be abated, and upon certification
by the Assessor, as hereinafter set forth, and upon the completion
of the acquisition of such personal property, the increase in the
assessment on the personal property shall be abated as follows: for
new acquisitions of personal property with a value of not less than
$50,000,000, up to 85% of the increased assessment may be abated each
year, for a period not to exceed seven years.
(3)
The agreement shall further provide that a property
owner or lessee, as herein provided, may apply to the Assessor for
an extension of time within which to complete the acquisition of the
personal property, which, for good cause shown, the Assessor may approve,
but in no event shall such extension of time exceed a period of one
year.
(4)
Default.
(a)
An event of default under the agreement shall
include, but shall not be limited to, the occurrence of any one of
the following events:
[2]
There is any delinquency in the payment of taxes
on the property or improvements or on the personal property located
on or within the property or improvements; and
[3]
The property or the improvements or all of the
personal property located on or within the property or improvements
is sold or transferred or leased to an entity other than the applicant.
(b)
If, at any time, the Assessor determines that the owner or lessee of the personal property is in default under any of the terms of the agreement, other than Subsection D(4)(a)[3] hereof, and has failed to cure said default after notice and an opportunity to do so, the agreement shall terminate. In the event of such termination, the owner or lessee, as the case may be, shall be liable for increases in taxes, on a prorated basis, in the assessment year in which said event occurs, as if the agreement had not been executed.
(c)
If, however, the Assessor determines, at any time, that the owner or lessee of the personal property is in default under Subsection D(4)(a)[3] hereof, the agreement shall terminate, without notice, and the owner or lessee, as the case may be, shall be liable for any increase in taxes for which he would have been liable in the absence of this agreement.
E.
Administration.
(1)
The Assessor is authorized to establish written procedures
and technical specifications for the administration of this section.
(2)
Any agreement entered into under the provisions of
this section shall be recorded on the land records of the Town.
(3)
A copy of any assessment abatement agreement entered
into pursuant to the provisions of this section shall be forwarded
to the Assessor, who shall adjust the Assessor's records accordingly.
(4)
The Assessor shall have the sole responsibility for
determining the cost and value of the personal property subject to
an abatement of assessment increases hereunder in accordance with
Connecticut General Statutes.
