The purpose of this article is to establish through financial
accommodation a tax abatement program for the Town of Stratford that
will promote economic growth, thus expanding Town's tax base.
The incentives will both attract new businesses and promote the expansion
of existing businesses, while creating and preserving jobs. The program
will encourage redevelopment and adaptive reuse of obsolete or distressed
properties which pose special development problems because of age,
configuration and/or location. Blighted properties will be revitalized
and put to productive reuse. The program will also assist in the redemption
and redevelopment of contaminated industrial sites, commercial sites
and superfund sites.
This article shall be reviewed on an annual basis by the Town
Council.