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Town staff says 10–20 commercial vacancies threaten a portion of Simsbury’s tax base; subcommittee to propose incentives
Summary
Town Manager Marc Nelson told the Board that Simsbury has 10–20 vacant commercial properties and estimated 5–7% of the commercial tax base could be at risk in the next revaluation; a Vacancy Sub‑Committee will propose adaptive reuse and incentive options.
Town Manager Marc Nelson briefed the Board of Finance on June 16 about a Vacancy Sub‑Committee examining downtown and other commercial vacancies and potential tools to promote reuse. Nelson said the town’s commercial assessed value totals about $230 million, representing roughly $7.7 million in potential tax revenue, and that 10–20 commercial properties are currently vacant.
Nelson said some at‑risk properties could see a 50 percent drop in value, and his preliminary analysis suggests about 5–7 percent of the $7.7 million commercial tax base could be exposed to heightened risk in the next revaluation. The subcommittee’s goals are to identify spaces for adaptive reuse, to pinpoint programs or incentives to aid development, and to review permit processes for potential improvements.
Nelson said the committee will likely issue a report in the coming months with actionable items and that staff will include industrial property data as well for completeness. Chair Lisa Heavner asked that the Vacancy Sub‑Committee update remain a standing agenda item.
