OTHERPENDING

Related Affordable Seeks 20-Year Tax Abatement for Housing Preservation

Related Affordable has proposed a 20-year tax abatement agreement with the Town of Wethersfield to preserve 240 affordable senior housing units at Executive Square House. The agreement would involve an upfront impact fee of $600,000, a first-year payment of $575,000, and 2.5% annual increases.

Status
PENDING
Document date
June 8, 2026
Contract type
OTHER
Vendor
Related Affordable
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, 2.5% increases annually (20 years)
Contract type
OTHER
Contract term
20 years
Renewal date
2046-06-08
Renewal
The tax abatement would last 20 years with 2.5% payment escalations. Renewal terms or options are not specified in the proposal.
Document type
Proposal
Source document
Wethersfield Town Council Proposal Executive Square House Preservation 2026-06-08

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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 was awarded this government contract by Town of Wethersfield, as recorded on June 8, 2026. The contract value is $600,000 Upfront Impact Fee + $575,000 Year 1, 2.5% increases annually (20 years).

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

The Related Affordable contract with Town of Wethersfield is valued at $600,000 Upfront Impact Fee + $575,000 Year 1, 2.5% increases annually (20 years).

What type of contract is this?

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

Where was this contract approved?

This contract appears in Wethersfield Town Council Proposal Executive Square House Preservation 2026-06-08 (Proposal), dated June 8, 2026 from Town of Wethersfield. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Related Affordable hold?

Related Affordable 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'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.

View Town of Wethersfield's profile

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