Special tax district unlocks large, mixed-use development in Cheshire

A series of agreements secured in the past two years allow the town to reimburse developers for the infrastructure investment from new taxes generated by the project. It’s what’s known as a tax increment financing (TIF) deal. That money comes with strings. The development needs to add at least $50 million in value to the property before reimbursement can begin, and at least $15 million of that needs to come from commercial construction. New businesses on-site would create 468 jobs, according to the consultant. Cheshire Town Council member Tim Slocum said the town needs new housing stock and development to remain vibrant.


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