Hartford City Council considers tax breaks/property giveaways for two developments

City leaders propose to give four properties at the corner of Main and Ann Uccello Streets to a partnership of the nonprofit San Juan Center and apartments developer Carabetta Development LLC. Using these and four privately held properties, the partnership plans a $17.4 million project resulting in 43 apartments and 7,300 square feet of retail space in three buildings. The council is also being asked to grant the development a decade-long tax break. Under it, there would be no taxes for the first three years, with the tax burden rising from 5% of what otherwise would be owed to 12% in the following seven years. This “Arrowhead” project was awarded a $6.3 million state grant. The balance of funds would come from a Capital Region Development Authority loan, private-sector loan, historic tax credits, developer equity and funds allocated to the city from the U.S. Department of Housing and Urban Development.


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