New London — Monday's groundbreaking for Village on Thames in Fort Trumbull is delayed after developers failed Thursday to show proper financing for the 34-unit housing project.

A closing to transfer the property to the Stillman Organization scheduled for today was postponed, according the Renaissance City Development Association. Monday's groundbreaking is also delayed, said Karl-Erik Sternlof, the RCDA's vice president.

Mayor Daryl Justin Finizio issued a statement that said, in part, the city had fulfilled its obligations under the development agreement with Stillman, and "the responsibility now lies with the developer to provide adequate financial representations to proceed."