NEWTOWN -- A standing-room-only crowd in the Municipal Center chambers Wednesday night voted to approve a $2.8 million bond issue to design, construct and install sewers in the Hawleyville commercial district on Route 6 and Route 25. After 90 minutes of questions and debate, the audience voted 81-11 to approve the project that is not expected to cost taxpayers any money. The cost is to be borne by the commercial property owners who will benefit from the sewers. While the majority favored the potential economic development benefits of the sewer project, which is likely to begin in the summer, there were those who suggested a tax break to property owners from additional development might not be realized. At least one resident said she would prefer to see the property remain open space, and still another questioned whether the project would bring additional traffic to the area. Resident Bill Stevens said he objects because there is no guarantee the commercial development town leaders project will happen. He also said there was no pledge that tax revenues generated from those developments will occur, nor is there a pledge by town officials that additional revenues will be used to lower residents' tax bills. Resident Kevin Fitzgerald concurred, stating this project seems another example of building with the expectation that development will follow, with no such guarantee. CLICK TITLE TO CONTINUE READING
Shares od Caterpillar Inc. and Manitowoc hit 52 week high
Construction equipment stocks are on a roll. Caterpillar hit its 52-week high on Monday and Manitowoc shares zoomed to levels not seen in nearly five years. There were no company-specific announcements or any major economic news; the excitement actually spilled over from last week after Deutsche Bank turned bullish on both stocks and sent them soaring. But wait, it's a lot more than an analyst upgrade. Good news seems to be pouring in from several sides for Caterpillar and Manitowoc, and investors just can't wait to get a piece of the action. But is the momentum here to stay, or will the two stocks give it all up before it is fully realized? A look at the factors that are bidding the shares up may give you an answer.
On solid ground
The recent uptick in construction activity in the U.S., especially nonresidential construction, is the biggest factor that's fueling optimism in both Caterpillar and Manitowoc. Caterpillar gets about a third of its revenue, and Manitowoc more than half its sales, from that region. CLICK TITLE TO CONTINUE READING
Officials break ground on CCSU's new $82M dorm
NEW BRITAIN — On Wednesday, Central Connecticut State University did something it hadn’t done in more than a decade. It broke ground on a new residence hall.
“This residence hall has been a long time coming,” CCSU President Jack Miller said as university administrators and local and state officials prepared to wield ceremonial shovels. “It’s been a long time since we’ve built a new residence hall and it’s taken a lot of planning and a lot of work to get us
here.” The residence hall will offer 150 suite-style rooms, each with a living room and bathroom to be shared by four students. Each floor will feature group study rooms and alcoves for one-on-one studying and socializing. Plans call for a computer laboratory, game room and large living room to be situated on the first floor, which will also house the university’s Residence Life administrative offices and campus-wide meeting space. The new eight-story building will span 220,000 square feet and will be located at the corner of Harold Lewis Drive and Ella Grasso Boulevard. CLICK TITLE TO CONTINUE READING
Waterford High renovations near completion
Renovations and additions to Waterford High School should be completed or scheduled for completion by April 30, when Waterford school district's contract with O&G Industries for construction management ends. The district anticipates project costs will ring in below the $68 million in funds authorized by voters for the construction. Unused funds now total roughly $220,000 and may increase depending on the outcome of certain predicted expenditures. The revamped, technology-laden high school opened its doors in April. Alan Wilensky, chairman of the School Building Committee overseeing project spending, said district capital projects usually come in under budget by design. He said the high school project is no different. "We continue to look at the needs of the building and the budget," he said. O&G Project Manager Gus Kotait said at the committee meeting Tuesday that the project was 94 percent complete. When the O&G contract ends, buildings and grounds staff will take over remaining tasks. Recent expenditures have been limited to the finer, less expensive points of construction. These costs include items such as repairs to water lines damaged during building construction and adding a third camera to the auditorium. Tuesday, the committee consented to $20,000 in item costs, a sharp drop compared to the more than $200,000 in changes approved at a meeting in July. CLICK TITLE TO CONTINUE READING
Boardwalk Construction to start soon
Hopes are to break ground on the 107-foot-long boardwalk and overlook platform at Guilford's Chittenden Park by the beginning of March. "The bids for the project were opened two weeks ago. Right now we are just reviewing the bids and awaiting final approval from the Board of Selectmen," explained Park & Recreation Director Rick Maynard. Construction work on the project just off of Seaside Avenue has to begin by March due to the nesting schedule of coastal birds in the area, per the Connecticut Department of Energy & Environmental Protection. The boardwalk, which will replace the makeshift path that currently leads visitors from the park area to the dunes and into the trail, will consist of a walkway, as well as a platform area, complete with benches to enjoy the beautiful views of Long Island Sound. "It's a great spot," explained Maynard. "This area is a big deal-it is the New England Trail's southern gateway-and we have wanted to construct a boardwalk across the marsh for a long time. This will be a much better solution for access to the area." In addition to the boardwalk, students in shop class at Guilford High School will build an informational kiosk for highlighting the trails and other pertinent information about the wetlands in the area. CLICK TITLE TO CONTINUE READING
Obama seeking $300B for roads, railways
ST. PAUL, Minn. — President Barack Obama said Wednesday he will ask Congress for $300 billion to update aging roads and railways, arguing that the taxpayer investment is a worthy one that will pay dividends by attracting businesses and helping put people to work.Obama announced his plan at the Union Depot rail and bus station after touring a light rail maintenance facility. Funding for surface transportation programs expires later this year, and the White House says 700,000 jobs could be at risk unless Congress renews them."At a time when companies are saying they intend to hire more people this year, we need to make that decision easier for them," Obama said, by rebuilding aging transportation systems, power grids, communications networks and other projects that ease commerce."The bottom line is there's work to be done, workers ready to do it," he said, adding that one of Congress' major responsibilities is to help states and cities pay for such projects.Transportation Secretary Anthony Foxx warned Wednesday of a "transportation cliff" coming in August or September when the Highway Trust Fund, which finances federal highway and transit projects, is forecast to go broke. CLICK TITLE TO CONTINUE READING
Newington takes first step torward redeveloping National Welding Site
NEWINGTON -- The town council voted 6-3 Tuesday to formally accept the state's offer of $2 million to demolish and clean up the National Welding site, the first step toward redeveloping the long-derelict property. The council's three Republicans voted no because of what they said was vague language in the agreement. They expressed concerns that the state could exploit the language to compel certain uses, such as affordable housing. "I think everyone at this table wants to see those buildings come down and something there that will increase the grand list and bring people into Newington for the right reasons," GOP Councilman Daniel Dinunzio said. "There are parts of it that are open to interpretation." "This does continue to be a dubious proposition at this time," Majority Leader David Nagel added. CLICK TITLE TO CONTINUE READING
Tax Breaks to anchor United Technologies in state
EAST HARTFORD — Connecticut and United Technologies Corp., the state's largest private employer, announced an agreement Wednesday that would anchor the manufacturing giant in the state with up to $400 million in tax breaks. The deal, which needs legislative approval, opens up more research and development tax credits to the company in exchange for continued research and development spending and half a billion dollars in new facilities, including a new global headquarters for Pratt & Whitney in East Hartford. Much of the deal is subject to the company's creating hundreds of jobs, paying certain wages, and investing in research ventures in Connecticut, where United Technologies employs 22,200 "What we are doing today is laying the foundation for the future, a long-term foundation with respect to the relationship between the state of Connecticut with its largest employer, a future where Pratt & Whitney, Sikorsky and other United Technologies companies continue to call Connecticut home," Gov. Dannel P. Malloy said to employees packed in a Pratt & Whitney hangar scattered with aircraft engines. CLICK TITLE TO CONTINUE READING