[Adopted 12-9-2014 by Res. No. 14-81; amended in its entirety 1-24-2017]
A.
In an effort to attract business, the Town of Tolland has adopted
this tax abatement article in accordance with the Section 12-65b of
the Connecticut General Statutes. The Tolland Town Council recognizes
the difficulties associated with development in Tolland due to topography
and soil conditions as well as the development difficulties due to
certain market forces. The Town Council also recognizes the importance
of retaining existing businesses that have outgrown their space and
need to expand or move to a new location.
B.
This article establishes a tax abatement program for the Town and
allows the Town to enter into written agreements with the owners of
real property located within eligible zones in order to abate taxes
of real property in the manner set forth by this article to further
the Town's economic development interests and long-term economic gain.
Businesses are eligible to apply to the Town Council for a tax
abatement for improvements only when the following requirements are
met:
A.
The business is located or will be located in one of the following
zoning districts: Gateway Design District, Tolland Village Area, Community
Commercial Zone, Neighborhood Commercial Zone G or T, Commercial Industrial
Zone A or B, Technology Campus Zone or Tolland Business Park Zone;
B.
The type of business complies with Section 12-65b of the Connecticut
General Statutes; and
A.
A tax abatement schedule is not specified in Section 12-65b of the
Connecticut General Statutes. The Town Council shall determine the
specific abatement for each project based upon benefit to the Town.
B.
Per Section 12-65b of the Connecticut General Statutes, the period
for an abatement shall be no more than 10 years.
The Town Council may enter into a tax agreement under this article
only if the agreement will:
A.
Further the goal of creating development in the zones that is consistent
with planning guidelines adopted by the Planning and Zoning Commission.
B.
Foster further economic development elsewhere within the zones.
C.
Cause an increase in employment opportunities.
D.
Allow for development to occur in a time frame desirable to the community.
E.
Encourage the expansion of desired utilities within the community
for use within the zones and elsewhere within the community.
F.
Help foster the interconnection within and amongst properties to
promote the vision of the Town.
G.
Help to retain existing businesses within the Town.
Any tax agreement entered into pursuant to this article shall
not be subject to assignment, transfer or sale without the consent
of the Town Council.
Nothing in this article shall require the Town Council to enter
into a tax abatement agreement.
