National firms giving Renaissance financial advice
BRISTOL — Renaissance Downtowns is getting financial advice for its proposed Depot Square project in the city center from at least a couple of national firms that specialize in the field.
Two firms are specifically cited in the public portion of its preliminary financial report submitted recently to the nonprofit Bristol Downtown Development Corp. that is overseeing the revitalization of the former mall site on North Main Street. A Maryland-based firm, The Bainbridge Cos., is “reviewing our site plans” and has “provided significant input on the financing approach” for the first phase of the project, the report said. Bainbridge calls itself “a leading owner, developer and manager of luxury multifamily apartment communities in the Eastern United States.” CLICK TITLE TO CONTINUE READING
Portland officials to discuss Route 66 improvements with DOT
PORTLAND >> The town is still pursuing efforts to improve conditions along portions of Route 66 following a recent spate of fatal accidents on the road. To that end, First Selectwoman Susan S. Bransfield is working to arrange a meeting with a state transportation official. Bransfield has spoken with the official, Edmund Hedge, who is the law-enforcement liaison for the DOT. Now he and Bransfield are attempting to set up a meeting that would also include Lt. Ron Milardo, the police department’s highest ranking officer. “Mr. Hedge called me, and asked me when we could meet, and I said I would come up with some dates in the beginning of February,” Bransfield said Tuesday.
Now she is waiting to hear back from Hedge about which date is best for him. Bransfield said.
Town officials became concerned about conditions on Route 66 after two accidents on the road in the area of the ledges — one in September, the other in December — took the lives of the respective drivers. CLICK TITLE TO CONTINUE READING
NCDC approves grant to downtown Norwich developer
Norwich — The first maximum downtown revitalization building code upgrade grant was awarded Tuesday to the owner of a commercial building at 54-56 Broadway to augment the $305,850 the developer already has invested in the project. The Norwich Community Development Corp.’s Code Correction Review Committee Tuesday approved an $85,000 matching grant to the UZ-MAH ownership firm. The new grant was added to the initial $15,000 approved in April for the project, bringing the city’s grant to $100,000 — the maximum allowed in the code improvement grant program. NCDC Vice President Jason Vincent said this is the first full $100,000 grant awarded under the city’s $3.38 million downtown revitalization program approved by voters in 2010. The grant is distributed as a reimbursement to the owner after the work is completed, Vincent said. CLICK TITLE TO CONTINUE READING
Facing coast overruns, Wethersfield officials to meet about high school construction
WETHERSFIELD -- The town council will convene a rare joint meeting with two other commissions Wednesday evening to discuss cost overruns for construction at Wethersfield High School.
Councilmen and the Town Manager Jeff Bridges will meet with the school building committee and the school board at 7:30 p.m. in the Stillman Building at 127 Hartford Avenue in Old Wethersfield.
Officials will share information about the overruns, estimated at $5.5 million or about 7 percent of the project's $75 million budget, and discuss options for raising additional funds, Mayor Paul Montinieri said. He said he did not expect any decisions to be made Wednesday. "It was time, I thought, to hold a meeting to get everyone up to speed," Montinieri said. "There really isn't a game plan because (a list of proposed cost-saving measures) isn't done yet. It (the joint meeting) is a good thing because we can get it all on the table at the same time with the right players." CLICK TITLE TO CONTINUE READING