A new committee will meet Tuesday evening in Derby City Hall to begin discussions on whether the city will offer tax incentives to lure investment.
Also, in a separate meeting, the city’s Planning and Zoning Commission will review proposed zone changes being considered to trigger a project in the downtown redevelopment zone where Housatonic Lumber used to be.
Click here to read the agenda for the tax incentive committee.
Click here to read the agenda for the planning and zoning meeting.
Tax Incentive
Towns and cities in Connecticut have the power to exempt payments on some real estate or personal property taxes.
Towns and cities also have the ability to freeze assessments or offer short-term abatements for businesses looking to move in or expand.
Click here for a 2011 report to state lawmakers which details the options available.
Derby’s committee will be exploring whether the city wants to offer such benefits to developers or businesses.
However, there’s no precise sense of what Derby will be considering, because Tuesday is the first meeting.
Click here for a podcast interview from May during which Mayor Rich Dziekan and Derby Economic Development Liason Carmen DiCenso discuss incentives.
