East Hartford officials are creating a menu of tax breaks and other incentives to secure a project demolishing chunks of the roughly 50-year-old Founders Plaza office park along the Connecticut River, and building back hundreds of new apartments, as well as retail and recreation amenities. East Hartford officials have been negotiating with an undisclosed developer. Mayor Michael Walsh, on Tuesday, shared with the Town Council a draft letter addressed to developer Port Eastside Partners LLC, broadly outlining the possibility of tax stabilization and other potential incentives that could be applied to the ambitious project. According to the draft letter Walsh shared with the council, the plan involves demolition of a four-story office building at 99 Founders Plaza, demolition of a garage attached to a 20-story office tower at 111 Founders Plaza, and demolition of unoccupied warehousing space at 300 East River Drive. Walsh, on Wednesday, estimated demolition costs of $9 million.
https://www.hartfordbusiness.com/article/east-hartford-officials-eye-tax-breaks-other-incentives-to-secure-founders-plaza