Infrastructure and Tax Abatement Programs
The Town of Simsbury has appropriated $500,000 for infrastructure improvements needed for the completion of economic development projects, including roads and road improvements, sewers, drainage, and traffic control devices or signals. Funding is available for design and construction costs, land and easement acquisition costs, site improvements, engineering fees, legal fees, net interest on borrowings and other financing costs and other expenses related to the project or its financing.
Those wishing to apply for these funds should submit a letter of interest to:
Town of Simsbury
First Selectman’s Office
933 Hopmeadow Street
Simsbury, CT 06070
This letter should clearly outline the proposed project and provide a cost estimate. Final disbursements from the fund require the approval of the Boards of Finance and Selectmen and the Planning Commission.
The Town also offers a tax abatement program for new and existing businesses. Applications for benefits through this program are available through the Department of Community Planning and Development. There are several requirements that apply.
Generally, the program is as follows:
Base Abatement for New Construction: For new construction, the program would abate the net new increase in assessed valuation for up to three fiscal years. The minimum value of the new construction must be $100,000. Successful applications would be eligible for a 40% reduction in the first year and a 30% and 20% reduction in the second and third years.
Business Retention Abatement: For existing expanding businesses, the program would abate the net new increase in assessed valuation for up to three fiscal years. The minimum value of construction must be $100,000. Successful application would be eligible for a 50% reduction in the first year and a 40% and 30% reduction in the second and third years.
For questions or further details regarding these programs contact:
First Selectman’s Office (860) 658-3230 or
Director of Community Planning and Development at (860) 658-3228
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