Connecticut General Statutes 8-200 – Modification of development plan. Abandonment of plan and conveyance of property. Limitations
(a) A development plan may be modified at any time by the development agency, provided, if modified after the lease or sale of real property in the development project area, the modification must be consented to by the lessees or purchasers of such real property or their successor or successors in interest affected by the proposed modification. Where the proposed modification will substantially change the development plan as previously approved, the modification must be approved in the same manner as the development plan.
Terms Used In Connecticut General Statutes 8-200
- development agency: means the agency designated by a municipality under §. See Connecticut General Statutes 8-187
- development project: means a project conducted by a municipality for the assembly, improvement and disposition of land or buildings or both to be used principally for industrial or business purposes and includes vacated commercial plants. See Connecticut General Statutes 8-187
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- legislative body: means (A) the board of selectmen in a town that does not have a charter, special act or home rule ordinance relating to its government or (B) the council, board of aldermen, representative town meeting, board of selectmen or other elected legislative body described in a charter, special act or home rule ordinance relating to government in a city, consolidated town and city, consolidated town and borough or a town having a charter, special act, consolidation ordinance or home rule ordinance relating to its government. See Connecticut General Statutes 8-187
- municipality: means a town, city, consolidated town and city or consolidated town and borough. See Connecticut General Statutes 8-187
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- project area: means the area within which the development project is located. See Connecticut General Statutes 8-187
- real property: means land, subterranean or subsurface rights, structures, any and all easements, air rights and franchises and every estate, right or interest therein. See Connecticut General Statutes 8-187
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(b) If after three years from the date of approval of the development plan the development agency has been unable to transfer by sale or lease at fair market value or fair rental value, as the case may be, the whole or any part of the real property acquired in the project area to any person in accordance with the project plan, and no grant has been made for such project pursuant to § 8-195, the municipality may, by vote of its legislative body, abandon the project plan and such real property may be conveyed free of any restriction, obligation or procedure imposed by the plan but shall be subject to all other local and state laws, ordinances or regulations, including, but not limited to, any offer of sale required under subsection (c) of § 8-193.