How will the plan be financed and how much will it raise property taxes?

The objective is to have this project be tax neutral or result in a tax rate decrease because of an increase in the tax base. The public infrastructure would hopefully be financed, at least in part, through state and federal grants, and from new tax revenue generated by the new construction, although this might initially require town bonding. The private development will be financed by developers and property owners, who may also help pay for common amenities such as wastewater management, sidewalks and landscaping. The town might consider creating a Tax Increment Financing (TIF) District like the one just approved in Old Saybrook, under which new tax revenue generated by new construction may be allocated, in whole or in part, to improvements in the district and to financial inducements to developers. In all events, any material town expenditures will have to be approved at a town meeting.

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1. Why should the town get into the development business? Isn’t that better left to private developers?
2. Halls Road is fine the way it is—why is the town considering changes?
3. What is the new plan for Halls Road?
4. What is the process for developing a master plan?
5. What is the anticipated time-frame for implementing the plan?
6. Will the plan result in unfettered growth and additional traffic?
7. How can this plan survive the overflow traffic from tie-ups on I-95?
8. Will private property owners be required to make changes or invest money?
9. How will the plan be financed and how much will it raise property taxes?
10. What happens if I-95 is widened in the future or the exit or entrance ramps are reconfigured?
11. What do you mean by residential housing on Halls Road and why is it needed?
12. How do you intend to address increased wastewater?
13. How can the town validate what types of improvements would be the most successful for the town, its businesses and the tax base?
14. How can I have input to the plan or keep updated on the progress?