Council approves compliance forms for Reagan Logistics tax abatements; buildings remain unleased
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Summary
Avon approved 2025 compliance forms for two Reagan Logistics abatement agreements. Staff said the properties are spec buildings with no promised jobs and that the company remains in substantial compliance for the second year of the 10‑year abatement.
The Avon Town Council on May 8 approved the 2025 compliance forms for two tax abatements granted to Reagan Logistics for spec buildings on Ronald Reagan Parkway.
John Taylor, economic development staff, told the council the two buildings were developed by DRG and are now owned by Granite; the town originally offered 10‑year abatements and this action covers the second year of those abatements. Taylor said the buildings currently have no tenants because they are speculative developments and that no jobs were promised as part of the abatements.
A council member asked to see the SB‑1 forms when the CF (compliance) forms come to council; staff acknowledged that request. Council also discussed the abatement step schedule and staff confirmed the first-year benefit was 100 percent and the second year 95 percent; further years were not specified during the discussion.
Council approved the CF compliance forms on a roll call vote. Staff characterized the properties as being in substantial compliance for the second year and said they will provide additional documentation (SB‑1) when available.