[Amended 7-28-1992]
The Town Manager is hereby authorized and empowered to enter into a contract on behalf of the Town of Farmington on terms and conditions stated in §
176-2 of this article with any owner of housing, the construction or rehabilitation of which shall have been commenced after July 1, 1971, and which housing is solely for low- or moderate-income persons or families, for the abatement, in whole or in part, of real property taxes on such housing.