Connecticut General Statutes Title 12. Taxation § 12-65b. Agreements between municipality and owner or lessee of real property or air space fixing the assessment of such property or air space

(a)(1) Any municipality may, by affirmative vote of its legislative body or, pursuant to subdivision (2) of this subsection, by its board of selectmen, enter into a written agreement, for a period of not more than thirty years, with any party (A) owning or proposing to acquire an interest in real property in such municipality, (B) owning personal property in such municipality, (C) owning or proposing to acquire an interest in air space in such municipality, or (D) who is the lessee of, or who proposes to be the lessee of, air space in such municipality in such a manner that the air space leased or proposed to be leased shall be assessed to the lessee pursuant to section 12-64, fixing the assessment of the personal property, real property or air space which is the subject of the agreement, and all improvements on such real property or in such air space and to be constructed on such real property or in such air space, subject to the provisions of subsection (b) of this section. For purposes of this section, “improvements to be constructed” includes the rehabilitation of existing structures for retail business use.

(2) In the case of a municipality where the legislative body is a town meeting and such town meeting has adopted an ordinance delegating to the board of selectmen the authority to enter into an agreement described in subdivision (1) of this subsection, such board of selectmen may enter into such agreement.