|From:||Lenny Siegel <firstname.lastname@example.org>|
|Date:||Fri, 31 Oct 2008 01:14:01 -0700 (PDT)|
|Subject:||[CPEO-BIF] Gilbert & Bennett site, Redding, Connecticut|
G&B project owner seeks help from the town Rachel Kirkpatrick Redding Pilot (CT) October 30, 2008Georgetown Land Development Company is asking the town to forego collecting incremental tax increases on commercial properties within the Gilbert & Bennett site for a period of time in conjunction with a state program that would provide money the company needs to begin road work.
At the Board of Finance meeting Tuesday night, Stephen Soler, Georgetown Land Development Company (GLDC) president, explained the program, which is administered under the auspices of the Connecticut Brownfield Development Authority.
"It's no secret you can't get a loan from a bank, and neither can we," Mr. Soler said of the stalled bond market.
The company can issue bonds for the road work, but it cannot issue bonds at a reasonable rate. Without roads, the site will not attract potential buyers of the commercial properties, he explained. And, without buyers, the town can't realize the tax revenues.
... For the entire article, see http://www.acorn-online.com/joomla15/index.php?option=com_content&view=article&id=12380:gab-project-owner-seeks-help-from-the-town&catid=37:redding-local&Itemid=101 -- Lenny Siegel Executive Director, Center for Public Environmental Oversight a project of the Pacific Studies Center 278-A Hope St., Mountain View, CA 94041 Voice: 650/961-8918 or 650/969-1545 Fax: 650/961-8918 <email@example.com> http://www.cpeo.org _______________________________________________ Brownfields mailing list Brownfields@lists.cpeo.org http://lists.cpeo.org/listinfo.cgi/brownfields-cpeo.org
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