"If we don't start accomplishing issues and working with them, prepare for spherical four of affordable housing. That's what They are preparing for.
Before the Nov. 9 town council Assembly, where the PILOTs were introduced, many citizens had by now spoken out on social media marketing against the idea of the city entering into PILOT agreements, even creating a flyer for the public—a move that the mayor claimed was packed with misinformation.
PILOT agreements, often called municipal tax abatements, are deals that permit a developer to modify their typical tax payments for your assets to a hard and fast, yearly payment on the municipality.
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"To offset the loss of developer-compensated tax income under the PILOT, the Montville college district is proposing a $70 million referendum. That is to increase and boost educational institutions as a result of influx of kids as well as the minimize in tax dollars with the developer.
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