What to do with saved buildings?

We all cherish historic buildings. Now that those on Bank Street have been saved from demolition, where do we go from here? I fear an impasse that will go on indefinitely. 

The "viable solution" offered from a study of the buildings commissioned by preservation groups comes with a price tag of $1,829,373. This figure does not include the cost of the property to the present owner, or the expenses invested in the buildings since taking ownership, which brings the real number to over $2.5 million. Impossible to identify in such a study is the potential expense of serious and extensive problems that often occur in the restoration of old buildings. 

As time passes, developers and investors lose money and interest, and construction costs continue to rise. The hands of the owner of the Bank St. buildings have been tied, while his expenses (taxes, insurance) continue. We are looking at a stalemate that needs a solution before at least one of these buildings crumbles beyond saving. Right now, it's an eyesore on a street that we are trying to revitalize. 

We may applaud Judge Koletsky's ruling, but there are no winners here, and the big losers will be the city and the people of New London. 

Lynda McLaughlin

New London

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