Council Considering Two More Developer Tax Abatements

The City Council will hear public testimony and consider two more tax abatements, adding to a number of other abatements provided to real estate developers in the city.

One proposal would provide a limit of taxes owed by the owner at 102 West Main Street, “which limits real estate property taxes to $700.00 per residential and commercial unit,” for fifteen years, “with annual real estate property tax increases of 2% for each succeeding assessment date.”

The property at 102 West Main Street MidConn Bank building, presently owned, according to the Council resolution, by Avon at 102 LLC, whose, “managing partner” is Amit Lakhotia, who, the resolution says, “has exhibited plans to convert the building into 79 residential apartment units and 2 commercial units—and maintaining 16 deed-restricted low income units for 30 years.”

The other current proposal is for, “the former Plimpton and Hills building at 189 Chestnut Street.” That plan, for thirteen years, “limits real estate property taxes to the 2022 payment of $14,949 for two (2) years, $900 per residential unit for four (4) years, $1,000 per unit for four (4) years, and $1,200 per unit for three (3) years.”

The second proposal is for Alpha Acquisitions LLC, whose “managing partner”, according to the proposal, is Alex Opuszynski. The resolution says Opuszynski, “has exhibited plans to convert the building into 30 residential apartment units and a suite of amenities for building residents.”

Both proposals are on the agenda of the Council’s Committee on Administration, Finance and Law on October 4, 2023 at 7:00pm in city hall.

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