[Adopted 2-9-2016]
Pursuant to Connecticut General Statutes § 8-215, the Town of Manchester may abate, in part or in whole, real property taxes for housing that is used solely for low- or moderate-income persons or families for which rent or carrying charges are limited by regulatory agreements with or otherwise regulated by the United States Department of Housing and Urban Development (HUD), the Connecticut Housing Finance Authority (CHFA) or any successor agency under the Low Income Housing Preservation and Resident Homeownership Act (LIPHRHA). Such tax abatement shall be used for one or more of the following purposes: to reduce rents below the levels which would be achieved in the absence of such abatement and to improve the quality and design of such housing; to effect occupancy of such housing by persons and families of varying income levels within limits determined by the Commissioner of Housing by regulation; or to provide necessary related facilities or services in such housing.
The abatement of any taxes pursuant to this article shall be made in accordance with a written contract between the municipality and the owner of any such housing, which contract shall provide the terms of such abatement and that moneys equal to the amount of such abatement shall be used for any one or more of the purposes stated in § 285-30, and that such abatement shall terminate at any time when such housing is not solely for low- or moderate-income persons or families.