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The council approved a credit enhancement agreement for the 92 Main Street project, which is planned to include four studio apartments and one or two retail spaces. The agreement provides for an $83,428 reimbursement through tax increment revenue.
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The agreement supports redevelopment at 92 Main Street by allowing the developer to receive up to $83,428 from increased tax revenue generated by the project. The town’s payment obligation is limited to those tax-increment revenues. The council also authorized legal representation for tax sales involving delinquent real estate accounts, while a requested motor-vehicle tax abatement was tabled pending additional information.
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