In Southington a manufacturing-tax abatement is intended to encourage businesses to renovate old mill buildings. The proposal calls for a five-year, 100 percent abatement for anyone spending $200,000 or more to renovate a mill building of 25,000 square feet or less, built before 1957.
Lou Perillo, the town’s economic development director spoke at a public hearing Monday, “Abatements are economic development tools. This would help cultivate a little more support for our buildings which need working on. Our mill buildings are beautiful and we would like to preserve them. It can become expensive if they remain vacant for an extended period of time. We can have problems with homeless people moving in or fires starting. They also become more costly to renovate.”
The Town Council approved the abatement by the end of the meeting.