[Adopted 5-29-2018[1]]
[1]
Editor’s Note: This ordinance also repealed former Art.
I, Tax Abatement to Church Housing for Fairfield, Inc., adopted 9-23-1974.
As used in this article, the following terms shall have the
meanings indicated:
Housing, the construction or rehabilitation of which is financially subsidized, aided or assisted in any way, by federal or state statute, which housing is subject to regulation or supervision of rents, charges or sales prices and methods of operation by a governmental agency pursuant to a written agreement, contract or other written instrument with the Town as prescribed by § 95-2 below that restricts occupancy of such housing to persons and/or families whose incomes do not exceed prescribed limits (each, a "housing agreement"), and shall be deemed to include the real property on which such housing is situated.
A person or persons, partnership, joint venture, limited
liability company, trust or corporation who or that has executed a
housing agreement with the Town.
The First Selectman may, by resolution enacted by majority vote
of the Board of Selectmen, enter into one or more housing agreements
on behalf of the Town with an owner granting abatement, in whole,
or in part, of the real property taxes on such housing, provided that
such abatement need not be conditioned upon receipt of state reimbursement
to the Town for such abatement; and provided further that each such
housing agreement shall require that the owner apply the money equivalent
of the taxes abated to one or more of the following specified purposes;
1) to reduce rents below the levels which would be achieved in the
absence of abatement and to improve the quality and design of such
housing; 2) to effect occupancy by persons and families of varying
income levels, within limits determined by the Commissioner of Housing
by regulation; or 3) to provide necessary related facilities or services
in such housing. Such abatement shall be made pursuant to a housing
agreement between the Town and the owner of any such low- or moderate-income
housing, which housing agreement shall provide the terms of such abatement,
that funds 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 used solely for
low- or moderate-income persons or families. The amount of such abatement
shall be established in each such housing agreement, giving due consideration
to the purpose or purposes to which the money equivalent to the taxes
so abated is to be applied.
Any property owner desiring to have real property taxes abated
pursuant to C.G.S. § 8-215 and the provisions of this article
may apply to the Tax Assessor, in accordance with rules and regulations
promulgated by the Tax Assessor, for such abatement. The Tax Assessor
shall investigate the circumstances regarding such real property,
and, if the Tax Assessor finds that the property qualifies for tax
abatement pursuant to C.G.S. § 8-215 and the provisions
of this article, shall prepare a resolution regarding same and submit
said resolution to the Board of Selectmen along with the recommendation
of the Tax Assessor. Said housing agreement shall be considered by
the Board of Selectmen in accordance with its procedures. The recommendation
of the Tax Assessor shall be considered by the Board of Selectmen
but shall not be binding upon said body.
The abatement shall become effective on the date specified in
the housing agreement between the Town and the owner of low- or moderate-income
housing. The terms of abatement shall extend for the remainder of
the fiscal year in which such abatement becomes effective and may
continue as specified in the housing agreement, provided that such
abatement shall terminate at any time when the housing agreement is
terminated in accordance with its terms, including without limitation
when the property for which tax abatement had been granted is not
used solely for low- or moderate-income housing.
For the purpose of determining the amount of taxes to be abated
as aforesaid, the present true and actual value of low- or moderate-income
housing on which rents and carrying charges are limited by regulatory
agreement with, or otherwise regulated by, federal or state government
or department or agency thereof, shall be based upon and shall not
exceed the capitalized value of the net rental income of the housing
project. For purposes of this article, "net rental income" shall mean
gross income of the project as limited by schedule of rents or carrying
charges, less reasonable operating expenses and property taxes.
The First Selectman of the Town of Fairfield may, when authorized
by resolution enacted by a majority vote of the Board of Selectmen,
enter into written agreements, contracts or other instruments with
the state for financial assistance by the state in the form of reimbursement
for all or part of the tax abatement granted to an owner of low- or
moderate-income housing in accordance with this article; provided
that such an agreement, contract or instrument with the state need
not be a condition of any tax abatement.
At fiscal year end, the Tax Assessor shall provide to the Affordable Housing Commission a list of all housing agreements approved by the Board of Selectmen pursuant to this article during such fiscal year. The list shall include the property address, owner and dollar amount of taxes abated at fiscal year end for the property. The Affordable Housing Commission shall include the Tax Assessor's abated property report in the annual report to the Representative Town Meeting as prescribed by Town Code § 6-1.
