The Board of Selectmen may, after approval of
future projects by the Representative Town Meeting and by a majority
vote of the Board, enter into contracts for the Town with nonprofit
owners and developers of affordable housing, including Carrie P. Chandler
Housing Corporation and BRIC, for the abatement, in whole or in part,
of the real property taxes that otherwise would be levied against
such affordable housing developments. Approval of the Representative
Town Meeting is hereby given for BRIC and Carrie P. Chandler Housing
Corporation developments at Ivy and Meadow Streets.
Notwithstanding this approval of a tax abatement,
the real property taxes otherwise levied against any such affordable
housing developments shall continue to be calculated on an annual
basis so as to inform the developer or owner, the Town and DOH or
HUD of the specific amount saved each year.
Such tax abatements shall be applicable to all
successors and assigns of the developers or owners, provided that
all conditions of this chapter are met, that the successor or assignee
is a nonprofit corporation recognized under the Internal Revenue Code
or is a governmental entity and that notice of any change in ownership
of the premises is filed with the Town Clerk.
The failure of a developer or owner or any of
its successors or assigns to construct the rental units or to maintain
the premises in accordance with the terms of this chapter or the standards
of the Building or Housing Codes of the Town of Branford shall constitute
reason not to commence, temporarily to cease or to obtain reimbursement
from the developer or owner for this tax abatement. Any such temporary
cessation or reimbursement shall be calculated on a partial basis,
with the tax abatement or reimbursement adjusted in proportion to
the unit or units so out of compliance with said codes.
The Town of Branford may, by a majority vote
of its Board of Selectmen, enter into contracts with the state or
with the United States for financial assistance in the form of reimbursement
for all or any part of the tax abatement granted to an owner of low-
and moderate-income housing in accordance with this chapter, but the
entering into of such a contract for financial assistance shall not
be a condition for the granting of any tax abatement.