Greenway Commons gets boost
Published: April 22, 2009
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EmailBy Leslie Hutchison
Record-Journal
April 22, 2009
SOUTHINGTON - Legislation that could jump start the long-planned renovation of the former Ideal Forge factory site on High Street is moving swiftly through the state House of Representatives.
The proposed law would allow developers to form a special taxing district that could issue bonds to pay for environmental clean-up of the property. The legislation for what's called the Greenway Commons Taxing District is now ready to be scheduled for a vote by the full house, according to state documents.
Howard Schlesinger, a partner with Meridian Development of New York City, said today the project is re-energized and his company is very active and still involved in the plans to renovate the 14-acre site in downtown Southington.
"We're talking with quite a few people - actual users and those interested," Schlesinger said. He also plans to meet with state legislators next week. "I'll come to Connecticut to have six or seven meetings on relevant opportunities," Schlesinger added.
The bill received unanimous approval from the Committee on Finance, Revenue and Bonding last week and was also unanimously approved by the Planning and Development Committee in early March.
A similar bill approved last year by the House and Senate was vetoed by Gov. M. Jodi Rell because she said amendments added to the legislation also added costs to the proposed law.
Meridian Memos:
"Repositioning the United States"
June 2009
by Michael G. Clark, Principal
From the time we sent An Awakening out in January until now, the government has taken unprecedented steps toward the goal of stabilizing the U.S. economy.
This herculean effort/spending binge has been met with an overall increase in confidence by the marketplace that can mainly be attributed to the diminished fear of the Great Depression 2.0.
However, America’s rebound in confidence and the rise of the stock market should not be a bellwether of an imminent return to economic sanctity.
Talks of “green shoots” have dominated the press, but let us not confuse a lack of bad news with growth, or an increase in confidence with progress.
To Read More, Click Here
"An Awakening"
8 January 2009
by Michael G. Clark, Principal
The decline of Rome was the natural and inevitable effect of immoderate greatness. Prosperity ripened the principle of decay; the causes of destruction multiplied with the extent of conquest.
- Edward Gibbon, The Decline and Fall of the Roman Empire.
One of Meridian Development Partners’ New Year’s resolutions is to provide regular commentary on many of the changes that will reshape economic behavior and define opportunities and risks over the coming years.
This particular piece is intended to provide a broad-based reflection on 2008, as well as set the stage for future focused commentaries on specific initiatives and their implications for real estate investing.
Our goal is to generate an ongoing dialogue and debate with our colleagues and partners.
Through this we hope that our knowledge will be expanded and that we will all come out a little bit smarter for it.
To Read More, Click Here
