As used in sections 7-339cc to 7-339kk, inclusive, unless the context otherwise requires: (1) “Captured assessed value” means the amount, as a percentage or stated sum, of increased assessed value that is utilized from year to year to finance project costs pursuant to the district master plan. (2) “Current assessed value” means the assessed value […]
(a) A municipal legislative body may establish a tax increment district located wholly within the boundaries of such municipality in accordance with the requirements of sections 7-339cc to 7-339kk, inclusive. If the municipality has a charter, the establishment of such tax increment district may not be in conflict with the provisions of such charter. Establishment […]
Prior to the establishment of a tax increment district and approval of a district master plan for such tax increment district, the municipal legislative body or the board of selectmen in the case of a municipality in which the legislative body is a town meeting shall (1) consider whether the proposed tax increment district and […]
(a) In connection with the establishment of a tax increment district, the legislative body of a municipality shall adopt a district master plan for each tax increment district and a statement of the percentage or stated sum of increased assessed value to be designated as captured assessed value in accordance with such plan. Such legislative […]
(a) In the district master plan, the municipality may designate all or part of the tax increment revenues generated from the increased assessed value of a tax increment district for the purpose of financing all or part of the district master plan. The amount of tax increment revenues to be designated is determined by designating […]
Costs authorized for payment from a district master plan fund, established pursuant to section 7-339gg are limited to: (1) Costs of improvements made within the tax increment district, including, but not limited to, (A) capital costs, including, but not limited to, (i) the acquisition or construction of land, improvements, infrastructure, public ways, parks, buildings, structures, […]
(a)(1) Notwithstanding any provision of the general statutes, whenever the municipality constructs, improves, extends, equips, rehabilitates, repairs, acquires or provides a grant for any public improvements within a tax increment district or finances the cost of such public improvements, the proportion of such cost or estimated cost of such public improvements and financing thereof as […]
(a) For the purpose of carrying out or administering a district master plan or other functions authorized under sections 7-339cc to 7-339kk, inclusive, a municipality is authorized, subject to the limitations and procedures set forth in this section, to issue from time to time bonds and other obligations of the municipality that are payable solely […]
The legislative body of a municipality is encouraged to create an advisory board, whose members include owners or occupants of real property located in or adjacent to the tax increment district they serve. The advisory board may advise the legislative body and any designated administrative entity on the planning, construction and implementation of the district […]
