New Haven’s Livable City Initiative Executive Director Erik Johnson is asking the Board of Alders to allow owners of Brewery Square Apartments to pay off a portion of a deferred $500,000 tax bill, but abate $178,000 of the bill. The move is part of a plan to prevent the development from going under, he says. Board President Jorge Perez, D-5, questioned the idea of using the city as a bailout option. “You’re saying the property is worth less now than what it was projected,” Perez said to Johnson. “Since when did we get into the business of minimizing investor risk?” Read more: bit.ly/1tcrnGS
Posted on: Mon, 27 Oct 2014 13:30:00 +0000
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