The city on Friday released details of a proposed agreement with the developers looking to build a 60-unit apartment complex on Franklin Street that calls for a 15-year tax abatement and the company paying approximately $30,000 in real estate taxes to the city the first year with increases of 3% for the remaining 14 years. Of the 60 one-, two– and three-bedroom apartments, 80% would be affordable with 12 of those units being for Section 8 housing. The City Council is expected to discuss the memorandum of understanding with Pennrose on Monday and possibly vote. The high number of affordable units is necessary, developers have said, is because of the competitiveness for funding from the Connecticut Housing Finance Authority. Funding would cover 80% of the construction costs.