[Adopted 8-24-1971 by Ord. No. 64]
[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.
A. 
Said contract shall be subject to approval by the Town Council.
B. 
Moneys equal to the amount of such abatement shall be used solely for one or more of the following purposes:
(1) 
To reduce rents below the levels which would be achieved in the absence of such abatement.
(2) 
To improve the quality and design of such housing.
(3) 
To effect occupancy of such housing by persons and families of varying income levels within limits determined by the State Commissioner of Housing.
(4) 
To provide necessary related facilities and services in such housing.
C. 
Said abatement shall terminate at any time when such housing is not solely for low- or moderate-income persons or families or when said housing ceases to fulfill the purposes stated in Subsection B above or the purposes stated in C.G.S. §§ 8-215 and 8-216, as said sections may be amended.
D. 
The owner shall give all assurances required by the Town Manager and by the Commissioner of Housing that the amount of the tax abatement shall be used for the purposes stated in C.G.S. §§ 8-215 and 8-216, as said sections may be amended.
E. 
The owner shall permit the Town Manager and the Commissioner of Housing to inspect said premises are being used for the purposes stated in Subsection B and stated in C.G.S. §§ 8-215 and 8-216, as said sections may be amended.
F. 
The Town Manager shall review the use being made of the premises annually to confirm that the purposes set forth in Subsection B above are being fulfilled.
G. 
Said abatement shall continue for a specified number of years not to exceed 50.
H. 
The contract shall state whether or not it shall be subject to approval by the Commissioner of Housing in order to qualify the Town for reimbursement in the form of a grant-in-aid by the State of Connecticut, pursuant to C.G.S. §§ 8-215 and 8-216, as said sections may be amended, for the amount of tax abatement provided under said contract.
I. 
Such other terms and provisions not inconsistent with C.G.S. §§ 8-215 and 8-216, as said sections may be amended, may be included as deemed appropriate.