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Stonington trustees approve 75% TIF reimbursement of $95,836.50 for S & R Rentals
Summary
The Stonington Board of Trustees unanimously approved a Tax Increment Financing reimbursement covering 75% of eligible costs for Randy White and Sheryl Coady’s S & R Rentals, totaling $95,836.50, on Dec. 2, 2024.
The Village of Stonington Board of Trustees voted unanimously on Dec. 2 to approve a Tax Increment Financing reimbursement for S & R Rentals, the applicants identified as Randy White and Sheryl Coady. The board authorized reimbursement of 75% of TIF-eligible costs, an amount the meeting record lists as $95,836.50.
Trustee Tammy Wilson moved to approve the application and Trustee Scott Kuntzman seconded; the motion passed with a roll call vote of six in favor (Wilson, Graham, Ramsey, Callan, Grover and Kuntzman). The record notes a formal roll-call approval and the motion language as presented by the president’s report. "Motion passed with a 6-0 vote." The minutes do not record any dissenting discussion or conditions attached to the reimbursement.
The approval was taken during the president’s report under routine business; the minutes do not specify a timeline for disbursement or required documentation beyond the usual TIF-eligibility review. The record identifies the applicants by name but does not contain direct remarks from the applicants in this meeting or additional project-level details such as project scope or projected job impacts.
