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Danbury officials approve tax abatements for two Housing Authority properties

The Danbury City Council has approved two tax abatement agreements with the Housing Authority.  The agreements are for the Ives Manor and Fairfield Ridge housing complexes. 

 

The Housing Authority requested the tax abatement for the proposed 58-unit Fairfield Ridge Apartments Tax Credit Project.  The agency applied for and was awarded up to $8.8 million from the federal government for the rehabilitation and redevelopment of the property providing housing for low and moderate income families. 

 

The tax abatement for Ives Manor, a 98-unit elderly housing program, would be an extension of the 1975 tax agreement.  The 40-year term expired in October 2015 and was in consideration for continued state and federal funding assistance.  The abatement for Ives Manor is for an additional 40 year term, or until 2055.

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Brian Kilmeade

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