Special Taxing District Proposed for Port Eastside Development in East Hartford

According to the Hartford Business Journal, a proposal to transform East Hartford’s Founders Plaza office park into the “Port Eastside” development could benefit from property tax funding. Investors have already spent millions acquiring five properties within the 30-acre office park for the project, which includes about 1,000 multifamily units and 400,000 square feet of commercial space. A bill is being considered by state lawmakers to create a special taxing district that would use tax increment financing to fund infrastructure improvements. The development, introduced as an $841 million investment, includes plans for utilities, roads, a greenway, and more.

Click Here: New special taxing district eyed for massive Port Eastside development in East Hartford for more information.