Financial modeling of prospective real estate development options can help to understand the tax revenue and spatial implications of different development options to ensure optimal performance of development projects.

Economic Impact Assessments look at a variety of factors including tax revenue, infrastructure maintenance costs, and property values to help inform decisions about development projects.

Over the last five years, the Agency has administered a series of Property improvement Programs. These initiatives have helped many

property owners make physical improvements to their residential and historic buildings. Demand for these programs, availability of funding, and administrative availability will determine the future of these initiatives.

Make tax incentive policies consistent and transparent. Provide support to the City of Norwalk staff to help attract and retain businesses and employers in the City’s Enterprise Zone through tax assessment deferral incentives as deemed appropriate.

Provide support, advice, and expertise to inform changes in how the City of Norwalk deploys local property tax abatements and deferrals to promote affordable housing and economic opportunity.

Continue storefront activation programs to help provide vibrancy and near-term momentum for SoNo and Wall Street. Provide support for citywide efforts by Norwalk’s Economic and

Community Development Department to develop small businesses, support main streets, and rehabilitate commercial buildings.

Access the city’s existing Storefront Improvement Program for Wall Street/West Avenue and SoNo. Continue supporting small businesses by offering matching grants for façade improvements that meet basic design and quality criteria to property owners. Upgrades to the physical condition of buildings will positively influence the perception of the neighborhood. Storefronts, signage, windows, and façade restoration are critical elements to address.