OTHERAPPROVED

Town Council Approves Tax Abatement for Related Affordable at 100 Executive Square

Wethersfield Town Council approved a 20-year tax abatement agreement with Related Affordable, LLC for 100 Executive Square. The deal includes a $600,000 impact fee, $575,000 first-year payment with 2.5% annual increases, and secures 40 years of affordable housing restrictions.

Status
APPROVED
Document date
June 1, 2026
Contract type
OTHER
Vendor
Related Affordable Llc
Agency
Town of Wethersfield · CT

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$600,000 Upfront Impact Fee; $575,000 Year 1 Payment; 2.5% Annual Increases
Contract type
OTHER
Contract term
20-year tax abatement agreement; new 40-year affordability restrictions for housing units
Renewal date
2046-06-01
Renewal
Initial term 20 years; 40-year affordability preservation covenant. Annual payments increase at 2.5%.
Document type
Minutes
Source document
Wethersfield Town Council Regular Meeting Minutes 2026-06-01

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the government contract by Town of Wethersfield?

Related Affordable Llc was awarded this government contract by Town of Wethersfield, as recorded on June 1, 2026. The contract value is $600,000 Upfront Impact Fee; $575,000 Year 1 Payment; 2.5% Annual Increases.

How much is the Related Affordable Llc contract with Town of Wethersfield worth?

The Related Affordable Llc contract with Town of Wethersfield is valued at $600,000 Upfront Impact Fee; $575,000 Year 1 Payment; 2.5% Annual Increases.

What type of contract is this?

This is a government contract, documented as a minutes record.

Where was this contract approved?

This contract appears in Wethersfield Town Council Regular Meeting Minutes 2026-06-01 (Minutes), dated June 1, 2026 from Town of Wethersfield. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Related Affordable Llc hold?

Related Affordable Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Related Affordable Llc's profile

What is Town of Wethersfield currently buying?

Explore Town of Wethersfield's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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