Senate Bill No. 528
               Senate Bill No. 528

              PUBLIC ACT NO. 98-207


AN ACT EXPANDING THE PURPOSES FOR WHICH AGREEMENTS
CAN BE REACHED BETWEEN MUNICIPALITIES  AND  OWNERS
OR  LESSEES  OF  REAL  PROPERTY OR AIR SPACE UNDER
SECTION 12-65b OF THE GENERAL STATUTES.


    Be  it  enacted  by  the  Senate  and House of
Representatives in General Assembly convened:
    Section  12-65b  of  the  general statutes, as
amended by section 1  of  public  act  97-235,  is
repealed  and the following is substituted in lieu
thereof:
    (a)  Any municipality may, by affirmative vote
of its legislative  body,  enter  into  a  written
agreement  with  any  party owning or proposing to
acquire an  interest  in  real  property  in  such
municipality,   or   with   any  party  owning  or
proposing to acquire an interest in air  space  in
such  municipality,  or  with any party who is the
lessee of, or who proposes to be  the  lessee  of,
air  space  in  such municipality in such a manner
that the air space leased or proposed to be leased
shall  be  assessed  to  the  lessee  pursuant  to
section 12-64, AS AMENDED, fixing  the  assessment
of  the  real  property  or air space which is the
subject of the  agreement,  and  all  improvements
thereon  or  therein and to be constructed thereon
or  therein,  subject   to   the   provisions   of
subsection  (b)  of this section, (1) for a period
of not more than seven years, provided the cost of
such  improvements  to  be constructed is not less
than three million dollars, (2) for  a  period  of
not more than two years, provided the cost of such
improvements to be constructed is  not  less  than
five  hundred  thousand dollars, (3) to the extent
of fifty per cent of  such  increased  assessment,
for  a  period  of  not  more  than  three  years,
provided the  cost  of  such  improvements  to  be
constructed  is not less than one hundred thousand
dollars, (4) to the extent of twenty per  cent  of
such  increased  assessment,  for  a period of not
more than three years, provided the cost  of  such
improvements  to  be  constructed is not less than
one hundred thousand dollars, (5) to the extent of
thirty  per cent of such increased assessment, for
a period of not more than  three  years,  provided
the cost of such improvements to be constructed is
not less than five hundred thousand  dollars,  (6)
to the extent of twenty per cent of such increased
assessment, for a period of  not  less  than  five
years  but  no more than seven years, provided the
costs of such improvements to  be  constructed  is
not less than three million dollars, or (7) to the
extent  of  thirty  per  cent  of  such  increased
assessment,  for  a  period of not more than seven
years, provided the cost of such  improvements  to
be  constructed  is  not  less  than  five million
dollars.
    (b)  The  provisions of subsection (a) of this
section shall only apply if THE  IMPROVEMENTS  ARE
FOR  at  least one of the following: [requirements
is satisfied: (i) The improvements  are  for]  (1)
FOR  office  use;  [(ii) the improvements are] (2)
for retail use; [(iii) the improvements  are]  (3)
for   permanent   residential   use;   [(iv)   the
improvements are] (4)  for  transient  residential
use;   [(v)   the   improvements   are]   (5)  for
manufacturing use; [(vi) the improvements are] (6)
for warehouse, storage or distribution use; [(vii)
the   improvements   are]   (7)   for   structured
multilevel  parking  use  necessary  in connection
with  a  mass  transit  system;  [or  (viii)   the
improvements  are] (8) for information technology;
(9)  FOR  RECREATION  FACILITIES;  OR   (10)   FOR
TRANSPORTATION FACILITIES.

Approved June 8, 1998