The Hartford, Tax Assistance Addressed in Simsbury First Selectmen's Report

Submitted by the Town of Simsbury

Tax Assistance Available for Town of Simsbury Seniors

Trained volunteers are available to work with our senior citizens to prepare and electronically file both federal and state tax returns free of charge.  This service is being offered at The Simsbury Public Library and appointments are available on Thursdays through April 11, 2013 between the hours of 9:30 am and 3:00 pm.  To make an appointment, please call the Senior Center at (860) 658-3273.  Once you have an appointment, remember to bring last year’s tax return, your W-2, 1099 and Social Security forms as well as any other 2012 tax and income records.  This is a very valuable service and I would like to thank the volunteers who give so freely of their time and expertise, as well as the Library and the Senior Center for making this possible.

Town to Appoint Task Force to Work with The Hartford on Sale of Property

At tonight’s meeting we will be appointing a Task Force to work with The Hartford on the marketing and sale of its building in Simsbury.  The Task Force will work with The Hartford on the selection of a broker for the property sale and, once the broker is selected, will assist with preparation of the marketing materials.  We are also taking steps as we go through the budget process to ensure that we have the resources to identify and recruit appropriate businesses for the Town of Simsbury – not only for sale of The Hartford’s property but for other sites currently under development or with the potential for development.  Our goal is to take this very challenging situation and turn it into an opportunity for the future of our town.

Town Sells Bonds at Record Low Interest Rates

I am pleased to report that the Town of Simsbury’s bond sale on February, 27, 2013 was very successful – at a true interest cost of 1.299% on a bond issue of $5,555,000, the Town obtained the lowest interest rate and interest cost on record.  In August, 2011 the Town conducted an advance refunding of 2003 General Obligation bonds at a true interest cost of 1.305% - this was also an excellent rate and the decision to move forward with the advance refunding at that time saved the Town of Simsbury $377,425 in interest over the life of the issue.  The Town of Simsbury’s AAA rating from Moody’s has certainly helped it to obtain capital project funding at very low rates.  This is where our collective commitment to conservative financial management practices results in a demonstrable benefit to our taxpayers.  I would like to thank the Town staff involved in preparing for and executing the bond sale.

Neighborhood Assistance Act Tax Credit Program Applications Now Available

The Department of Revenue Services has notified us that 2013 Neighborhood Assistance Act (NAA) Tax Credit Program proposal applications for tax exempt organizations are now available.  If you are a tax exempt organization and your application is approved, businesses donating to you to fund a qualified community program will be entitled to a tax credit.  If you are a tax exempt organization and you are interested in participating in the NAA Tax Credit Program, here’s what you have to do:

• First, go to the Department of Revenue Services website at www.ct.gov/DRS and search for “Neighborhood Assistance Act.”  There you will find all the information you need about qualifying programs – such as energy conservation projects, job training and education – as well as an application you can download.
• Second, complete the application and submit it to Tom Cooke in the First Selectman’s Office on or before March 22, 2013.
• The Board of Selectmen will then hold a hearing on the applications received, and approved applications will be submitted to the Department of Revenue Services prior to the July 1, 2013 deadline.

If you need more information after visiting the Department of Revenue Services website, please do not hesitate to contact Tom Cooke at (860) 658-3230.