The Town Council may cancel, in whole or in
part, any taxes, interest, and penalties assessed upon personal, mixed,
or real property when it finds that said cancellation may tend to
encourage the renovation, rehabilitation or construction of tax delinquent
properties.
In addition, or in the alternative, the Town
Council may cause to be paid to the Town a sum not less or more than
the amount necessary for the redemption of any land or property purchased
or taken by the Town for nonpayment of taxes, may direct the Treasurer
of the Town to assign and transfer the tax title to such land to any
person, including the previous owner of said property, and may request
the Treasurer to execute and deliver on behalf of the Town any instrument
necessary therefor. In so doing, the Council shall first make a finding
that any such payment by the Town or an assignment of land to the
previous owner or other party may tend to encourage the renovation,
rehabilitation, or construction of tax-delinquent property within
the Town.
In particular, the Town Council is empowered
to act under this article whenever, in its judgment, the cancellation
of payment of taxes, the payment of other amounts necessary to redeem
any land purchased or taken by the Town for nonpayment of taxes, and/or
the assignment of a tax title to a property may tend to cause the
original owner or other party (rather than the Town) to bear any portion
of the costs of any renovation, rehabilitation, cleanup, repair, or
construction on or with respect to tax-delinquent properties.