Moutinho's Mark IV sues town of Trumbull
TRUMBULL -- Embattled contractor Manuel "Manny" Moutinho, whose Mark IV Construction Co. allegedly botched one town sewer project and whose dealings are the subject of an FBI probe, is suing the Town of Trumbull on another sewer contract.Moutinho's Bridgeport-based company, which has a reputation for low-ball bidding and then jacking up prices through change orders, is suing Trumbull for breach of contract. Mark IV claims the town is responsible for breach of the covenant of good faith and fair dealing, lost profits, meddling with its work and unjust enrichment for failing to pay millions owed to the business.The suit claims it was Trumbull, not Mark IV workers, who have delayed completion of the North Nichols sewer construction project by withholding information on subsurface conditions that could have been anticipated when Moutinho submitted its winning $24.9 million bid.
Financing plan for Depot Square in the works
BRISTOL — The moment of truth is near for the long-awaited Depot Square project of a Long Island-based developer chosen to turn the former downtown mall site into a thriving urban neighborhood.
“The next couple of weeks are pretty big for us,” said Ryan Porter, the project manager for Renaissance Downtowns.Renaissance is scheduled to meet Friday with state development and housing experts to begin to figure what, if anything, the state is willing to do to help get the project off the ground.Among the issues on the table are the possibility the state may allow some sort of financing that would rely on future tax revenue to pay some upfront costs, the construction of a parking garage and roads within the project’s boundaries.Though Porter won’t talk about financing particulars, he said Renaissance is working with a couple of Midwestern private-equity firms, Lexington Partners and more.In addition, “we have local people who want to be involved,” Porter said.The big players on the financing side are eager to find out more about what “state enhancements” might be possible before a final deal is worked out, Porter said.He said the Friday session with state officials from the departments of housing and economic development are critical because it will “tell a lot about where we’re going to go.”
Job skills gap widens at high costto U.S. economy
Four years after the Great Recession, jobs remain scarce and unemployment painfully high. Yet good jobs that do exist can go unfilled for lack of qualified workers, employers say.The best jobs – jobs that pay well with benefits – are in health care, high-tech manufacturing, social services, finance and construction. All require sophisticated training or years of school.The challenge is to find workers with the right skills, or quickly provide those skills, to nurture the economic recovery and lift the long-term unemployed out of a deepening hole. So far, that challenge is not being met. One bright spot – public and private partnerships for job retraining – offers some hope for a solution, at least anecdotally. But the commitment to an overall solution is necessary to reverse some alarming trends.Long-term joblessness was at a six-decade high in August, nearly 38 percent of all unemployed, according to the Center on Budget and Policy Priorities in Washington, D.C. The federal government defines long-term as 27 or more weeks without work.
Developer won't appeal Storrs Center hotel decision
The developer of Storrs Center near the University of Connecticut won’t appeal a decision by town of Mansfield rejecting the addition of a hotel to the project.“Obviously, we are disappointed with the decision,” Howard Kaufman, managing member of developer LeylandAlliance, told me today. “We proposed the hotel because we felt it would be a great addition to Storrs Center and the new downtown mixed-use neighborhood we are creating.”He added: “In any event, we will not appeal. It is time for us to move on — we know we can develop a new plan that will be a positive addition to the new downtown.”LeylandAlliance had asked the town to change the zoning for Storrs Center to allow a hotel, not previously permitted. The planning and zoning commission earlier this week voted 6-3 against the request.Two nearby hotels operators — the Nathan Hale Inn & Conference Center and the Best Western — opposed the zoning change. They argued that it would further slicea hotel market that is already thin and one can fluctuate significantly depending on the season.