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Middletown council approves second tax-stabilization ordinance for company properties
Summary
The council unanimously approved an ordinance to amend the Code of Ordinances to permit a tax-stabilization agreement for the property referenced in the transcript as '440 Sabercroder' in favor of Medical Development Associates, LLC; the item passed after a motion and second.
Councilman Nocera moved to approve an ordinance amending the Code of Ordinances to authorize a tax-stabilization agreement for the property referenced in the record as "440 Sabercroder" in favor of Medical Development Associates, LLC. "Ordinance approving the proposed amendments to the Code of Ordinance of the City of Middletown, Section 272,972.7 tax stabilization agreement for 4 40 Sabercroder in favor of the Medical Development Associates LLC," the motion read as recorded in the transcript.
The motion was seconded and the council approved the ordinance by unanimous voice vote. The public transcript does not include the ordinance number, the precise code citation beyond what was read, nor any financial terms or the length of the agreement; those details would typically appear in implementing documents filed with the city clerk.
