Politics & Government
Tax Break Approved for Amazon
The council approved a 5-year tax abatement deal for the online-retail giant,
The Windsor town council voted to approve Amazon's request for a five-year tax abatement to build a 1.5-million-square-foot distribution center on Day Hill Road.
The abatement approved averages 60 percent over the abatement period, beginning at 70 percent and declining on an annual basis.
The deal will save Amazon about $3.9 million in taxes. The project is estimated to cost $101 million.
The approval represents the final milestone in the project's approval process, as the plans were approved by the town's inland wetlands and watercourses commission, and the planning and zoning commission in September.
Amazon Director of Economic Development Mike Grella said last week the company would be ready to break ground in November.
In the first year of the agreement, the town stands to collect over $1 million in taxes for property it currently collects $6,000 on.
During the five-year agreement, Windsor will collect an estimated $6.2 million, and that amount will double after ten years of Amazon's operation in town.
Amazon, Town Manager Peter Souza revealed Monday night, has a 15-year agreement with its developer and property owner, KTR Capital Partners.
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