The Mayor of the town, may, when authorized by resolution enacted by a majority vote of the Legislative Council, enter into contracts with the state for financial assistance by the state in the form of reimbursement for all or part of the tax abatement granted to an owner of low or moderate income housing in accordance with this subchapter but the entering into such a contract for financial assistance need not be a condition of any tax abatement.
(Ord. 547, passed 12-4-06)