City of New Haven - File #: LM-2023-0235

• File #: LM-2023-0235
• Version: 1
• Type: Order
• Status: Passed
• File created: 3/30/2023
• In control: City Clerk
• Title: ORDER OF THE NEW HAVEN BOARD OF ALDERS APPROVING WESTMOUNT DEVELOPMENT GROUP, LLC., PROJECT NAME HILL CENTRAL PHASE 1, TAX ABATEMENT FOR THE LOW-INCOME AFFORDABLE DEVELOPMENT AT HOWARD, PORTSEA, AND DEWITT STRETS NEW HAVEN, CONNECTICUT.

Date	Ver.	Action By	Action	Result
5/15/2023	1	Board of Alders	Passed	Pass
5/1/2023	1	Board of Alders	Noted
4/25/2023	1	Joint Community Development/Tax Abatement	Favorable Report
4/3/2023	1	Board of Alders	Referred

title

ORDER OF THE NEW HAVEN BOARD OF ALDERS APPROVING WESTMOUNT DEVELOPMENT GROUP, LLC., PROJECT NAME HILL CENTRAL PHASE 1, TAX ABATEMENT FOR THE LOW-INCOME AFFORDABLE DEVELOPMENT AT HOWARD, PORTSEA, AND DEWITT STRETS NEW HAVEN, CONNECTICUT.

Body

WHEREAS: this project currently known as the Hill Central Phase 1, located at Howard, Portsea, and DeWitt Street; and

WHEREAS: the Property will consist of a mixed income community of 8 buildings with 51 affordable units and 13 market rate units; and

WHEREAS: Westmount Development Group, LLC., and the City have agreed to enter into a seventeen (17) year agreement and                     

WHEREAS: Westmount Development Group, LLC will pay a tax amount for the 51 affordable units of $1,000 per year/per unit and beginning in year 2 will pay an escalation of 3% additional each year for the remainder of the 17-year agreement; and

NOW, THEREFORE, BE IT ORDERED, that the Board of Alders hereby authorizes the Mayor of the City to execute and deliver all such documentation on behalf of the City.