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Stonington, CT

Reject tax breaks for Campbell Grain housing project in Pawcatuck

The Day
 22 days ago

Cover picture for the articleStonington residents have the opportunity Oct. 5 to decide the merits of a proposed property tax abatement for the Campbell Grain apartment project. This tax abatement would have the town forgo collecting property tax of $690,000 over 10 years. The abatement of $690,000 would allow: (1) the developer to earn profits of about $4 million and (2) allow the property owner to sell the former Campbell Grain property for $1 million, based on documents submitted to the town. The only winners in this upside-down proposal are the for-profit developer and the current property owner.

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