South Windsor officials to vote on tax abatement for $71 million ‘Project Fin’ development

The mysterious “Project Fin” development could take a major step forward Monday, as the Town Council will vote on a proposed seven-year tax abatement for a $71 million renovation of a Talbot Lane facility. A previous Town Council agenda listed the location of “Project Fin” as 30 Talbot Lane, but the final resolution to be considered Monday night is for a potential development at 50 Talbot Lane, the 19.85-acre property that includes the former Carla’s Pasta food production facility. The resolution provides no specific numbers or percentages for the proposed tax abatement beyond the length of seven years, beginning on the grand list after a certificate of occupancy is obtained. A condition in the tax abatement would require Project Fin to refund all tax benefits to the town if it does not meet the estimated $71 million construction cost and continue to pay real estate taxes for at least seven years after the certificate of occupancy is issued.

Share This Article: