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Council postpones proposed Central Plaza fixed‑assessment deal, asks assessor for analysis
Summary
Council deferred action on a proposed fixed assessment agreement for Central Plaza (280 Branford Road) and asked the town assessor to provide a fiscal analysis before the July meeting. Councilors expressed concern about lost tax revenue during the term and asked for clearer estimates of the town’s short‑ and long‑term fiscal impact.
The North Branford Town Council voted June 16 to postpone consideration of a proposed fixed assessment agreement for Central Plaza (280 Branford Road) until the July meeting, directing staff to have the assessor present a detailed analysis of current assessed values, lease rents and the projected fiscal impact over the proposed term.
Staff said the new owners presented a list of deferred‑maintenance items and leases and that the Economic Development Commission recommended a staged fixed assessment (initial lower assessed value for a three‑year period, followed by stepped increases) to give owners cash flow certainty while they invest in repairs. The council raised concerns that a fixed assessment reduces short‑term tax revenue and shifts the burden to other taxpayers; councilors asked for precise numbers showing projected tax revenue forgone over the agreement’s term and the timeline for tenant lease expirations.
Councilor Mace moved—and Councelor Zampano seconded—a motion to postpone action until the July meeting with the assessor and town manager available to answer questions. The motion passed. Council members emphasized that the EDC recommendation is a starting point and that any final agreement would return to the council for approval.
