The citizens of the Town of Hamden have again spoken to support the growth of the local tax base. In the November election, citizens through a referendum re-approved the City and Town Development Act.
First approved in 2008, the vote re-authorized the act until 2016.
“We look forward to using the tools provided under this act to help important projects become viable to benefit the residents of Hamden,” said Mayor Scott Jackson.
The act allows the town to offer different types of incentives to developers for projects it deems to be of major impact. The incentives offered under the act range from loans, grants, property acquisition and other real estate related tools. For example the act allows for issuance of revenue bonds that would be the responsibility of the developers to pay off. These bonds would not affect the Town’s bond rating or its bonding capacity.