By KATIE MOEN For The Westfield Leader
WESTFIELD — As the Westfield Council prepares to cast its final votes on the One Westfield Place redevelopment project next week, the larger financial picture — including any possible risks or benefits that may be associated with it — are starting to come into focus.
The town recently introduced a financial agreement with the project’s redeveloper, HBC|Streetworks, that outlines a 30-year PILOT (Payment In Lieu of Taxes) projected to bring in more than $200 million in revenue to the town versus the approximately $2.7 million that the properties in question would generate under traditional taxation.
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