WATER POLLUTION CONTROL AUTHORITY
TOWN OF SOUTH WINDSOR
MINUTES PAGE 1
SPECIAL MEETING SPRENKEL ROOM JANUARY 13, 2004
Members present: Joseph Carino, Chairman; Richard Aries; Timothy Moriarty; Carol Fletterick
Members absent: Ed Havens, Jr., Michael Gauthier (alternate)
Staff present: Fred Shaw, Superintendent of Pollution Control
CALL TO ORDER
Chairman Carino called the meeting to order at 5:15.
NEW BUSINESS
Review of application for Utility Road Construction, Improvements and Assistance of South Windsor Technology Center – Prepare incentive recommendation for Town Council.
The purpose for the special meeting was to explain the Tax Abatement Program that began in 1997 and obtain a recommendation for approval of the Assistance Program, from the WPCA which must be presented to the Town Council on Tuesday, January 20, 2004. This program encourages economic development within the Town, by offering the developer a reimbursement in taxes for a portion of his costs associated with various improvements, one of which is the construction of sanitary sewers. Until this point Part B “Road Construction Utility Extension and Improvement Assistance” (Exhibit A) has not been extended to any developers. Under normal circumstances the committee for the Economic Development Incentive Program has 45 days to present their recommendations to the Town Council. In this case the
developer has a commitment from his bank for financing, the bank will not go forward with financing until they are assured the developer will receive this tax abatement.
Mr. Shaw explained the Town Manager did an analysis (Exhibit B) for the property known as the South Windsor Technology Center. The contractor has submitted his costs and Town staff has reviewed these costs, in the amount of $1,415,446, to see if they are reasonable. Town staff feels the costs associated with this project are reasonable. A formula, as shown on Exhibit B, was then used to determine the amount of the annual tax exemption. Under the program the developer is allowed to recoup the Tax Abatement for no more than 7 years. It was figured this property would be eligible for a tax abatement in the amount of $63,459, per year over the 7 year period.
Mr. Moriarty arrived at 5:20.
As shown on Exhibit B the land to be developed is considered raw land under the 490 Tax Exemption for Farming. At this time the Town receives approximately $1,800. in tax revenue for this undeveloped property. The total tax revenue figured on the improved lots is approximately $100,773, minus the tax reimbursement of $63,459.
WATER POLLUTION CONTROL AUTHORITY
TOWN OF SOUTH WINDSOR
MINUTES PAGE 2
SPECIAL MEETING SPRENKEL ROOM JANUARY 13, 2004
The Town would receive revenue in the amount of $37,314 over the 7- year period of the reimbursement schedule.
Chairman Carino explained to the Authority there is language in the policy and procedures stating in the event of failure of the contractor to remain in South Windsor for a period of time to be determined by the Town Council, the Company must refund all prior reimbursements to the Town.
Motion was made to make the recommendation to the Town Council approving the Assistance Program for the South Windsor Technology Center as substantially presented on form entitled, “Road Construction, Utility Extension and Improvement Assistance Program.”
Motion was made by Mr. Moriarty
Seconded by Mr. Aries
The motion carried unanimously
ADJOURNMENT
Motion was made to adjourn at 5:35 by Mr. Aries
Seconded by Ms. Fletterick
The motion carried unanimously
Respectfully submitted,
____________________________
Deborah Dumas
Recording Secretary
Date Approved:___________________________
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