City Council is scheduled to approve a Payment In Lieu of Taxes (PILOT) agreement that would generate more than $26 million over 30 years for a proposed 292-unit mixed use complex across the river from downtown.
Five Esterbrook Avenue properties envisioned for senior housing will be appraised before eventually being acquired from a private owner by the Redevelopment Agency.
The municipal budget anticipates more than $2.5 million in revenue from Payments In Lieu Of Taxes (PILOT), thanks in part to two new developments coming online and a new state law requiring a contribution from local hospitals.
Plans to construct a 60-unit age-restricted affordable housing complex along Esterbrook Avenue will move forward with legislation introduced and adopted last week.
Outdoor sidewalk cafes would be allowed to start a month sooner and be expanded to two areas of the town, under a measure to be considered by City Council next week.
A 10- or 12- story office tower that includes a 4-story retail and office complex with a 5-story parking deck that could potentially accommodate a grocery store or office space could be an appropriate future use of the RSI Bank property.