Pushing the plan: Downtown improvement meeting comes four weeks early for Windsor city council
The plan includes tax breaks and cash incentives for businesses, homeowners and developers
Windsor city council will hold a special meeting Friday afternoon to deal with a community improvement plan for the downtown area, a discussion initially slated to take place a month from now.
The plan includes a package of incentives that council hopes will spur business owners, developers, and homeowners in the downtown to invest in their properties.
The strategy has been in development for two years, and features a combination of tax breaks and cash incentives.
Peter Valente, the president of Valente Development Corporation, has been sitting on a property in the downtown area just waiting for something like this.
"We've got a property downtown that we purchased and we're looking to develop it, and right now, the economics don't make sense with the current incentives," he said. "But with the new [plan] it gives us a little bit more advantage in terms of savings on the costs of development and it makes the development work for us financially."
Valente said if the plan is approved, he could save nearly $75,000 a year for five years.