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Committee postpones vote on sale of 17–21 Wells Street, seeks term sheet on tax-fixing deal
Summary
The Planning, Economic Development and Housing Committee postponed consideration of a resolution to authorize sale of city-owned parcels at 17 and 21 Wells Street (phase 2 of the 525 Main Street project) after members said the proposed 20-year tax-fixing agreement and related term sheet were not included in the packet.
The City of Hartford Planning, Economic Development and Housing Committee on Monday postponed action on a mayoral resolution to authorize the sale of city-owned parcels at 17 and 21 Wells Street, described by staff as phase 2 of the 525 Main Street redevelopment.
The committee paused the measure after members said they did not have the tax-fixing term sheet or detailed community-benefit language that usually accompanies deals of this type. Wayne Diaz, a city development services staff member, told the committee the developer proposes 84 residential units, 58 on-site parking spaces and a roughly $20.8 million project budget funded by CRDA, a senior…
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