§ 32.16  ABATEMENT OF TAXES FOR LOW AND MODERATE INCOME HOUSING.
   (A)   Definitions. For the purpose of this section, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
      LOW AND MODERATE INCOME HOUSING.  Housing, the construction or rehabilitation of which is aided or assisted in any way by any federal or state statute, which housing is subject to regulation or supervision of rents, charges or sale prices and methods of operation by a governmental agency under a regulatory agreement or other instrument which restricts occupancy of the housing to persons or families whose incomes do not exceed prescribed limits.
      OWNER.  A person, partnership, joint venture or corporation who or which has executed, or will execute, a regulatory agreement or other instrument with a governmental agency, either federal, state or local, which limits occupancy of the low and moderate income housing owned or to be owned by the person, partnership, joint venture or corporation to persons or families whose incomes do not exceed prescribed limits.
   (B)   Contract for abatement. The Mayor may enter into contracts for the city with owners of low and moderate income housing, granting abatement, in whole or in part, of the taxes on the real estate used for the low and moderate income housing, subject to and dependent upon the terms of divisions (C) and (D) of this section. The amount of the abatement shall be established in each contract, giving due consideration to the purposes to which the money equivalent of the taxes so abated is to be applied. Each contract shall require that the owner apply the money equivalent of the taxes so abated to one or more of the following specified purposes:
      (1)   To reduce rents below the levels which would be achieved in the absence of abatement;
      (2)   To effect occupancy of housing by persons and families of varying income levels, within limits determined by the Connecticut Commissioner of Economic and Community Development by regulation; and
      (3)   To provide necessary related facilities or services in housing.
   (C)   Term of abatement.
      (1)   The abatement shall become effective on the date specified in the contract between the city and an owner of low and moderate income housing.
      (2)   The abatement shall terminate at any time when the property for which tax abatement has been granted is not used solely for low and moderate income housing or is not used for the purposes stated in Conn. Gen. Stat. § 8-215, as amended; and provided further, that the continuation for the abatement shall be conditioned upon the continuation of state reimbursement to the city for the abatement. The abatement authorized herein shall be granted only for low and moderate income housing upon which construction or rehabilitation commenced after July 1, 1967.
   (D)   State assistance. The Mayor shall execute on behalf of the city contracts with the state for financial assistance by the state in the form of reimbursement for the tax abatement granted to an owner of low and moderate income housing in accordance with Conn. Gen. Stat. § 8-216, as amended.
(1967 Code, § 2-16.1)  (Ord. passed 9-3-1969; Ord. passed 11-17-1969; Ord. passed 8-20-2012)
Statutory reference:
   Abatement of taxes for low and moderate income housing, see Conn. Gen. Stat. § 8-215