New London — Yehuda Amar has for the past several years been a prominent player in the rehabilitation of buildings and development of downtown businesses, most notably on Bank Street.

Despite Amar’s recent arrest in Rhode Island on multiple charges connected to what authorities described as a bribery and kickback scheme involving him and Twin River casino executive Michael Barlow, city officials remain optimistic about his ongoing projects in New London. There are several such projects.

Both Mayor Michael Passero and Felix Reyes, director of the city's Office of Development and Planning, said the early indications from Amar is that he will continue his ambitious rehabilitation schedule.

"He's made a commitment to New London," Passero said.

“From the city’s perspective, you have to stay optimistic. There are a lot of people who want to do a lot of great things downtown. (Amar) truly has done remarkable things,” Reyes said. “He’s brought buildings back to life.”

Yehuda has methodically purchased and set about renovating a number of buildings to create upscale apartments and street-level retail spaces. Property records show that among other real estate holdings, which include a home on Pequot Avenue, Amar has purchased 53 Bank St., 153 Bank St., 123 Bank St., 147 Bank St. and most recently the Cronin Building at 78 State St.

Amar created retail spaces and nine apartments, ranging in price from $1,200 to $2,300 a month, at 147 and 153 Bank St. Businesses include Credabel Coral Lab, Hot on Bank yoga studio and Fresh Men Spa Lounge.

His ongoing construction projects include 53 Bank St., the former Ernie’s Cafe and Royal Hotel, with plans for a $1.2 million investment to create eight apartments above and a restaurant space below. Previous plans for a restaurant opening at the former Ernie’s Cafe never materialized. The former New London Antiques Center at 123 Bank St. also is a work in progress where Amar has plans for 19 apartments and multiple retail spaces with a $1.8 million investment.

The estimates on rehabilitation costs come from his applications for local Enterprise Zone tax abatements, approved in December. Under the state program, there is a seven-year graduated deferral on taxes for the improvements made on the buildings. The tax exemptions are triggered only after improvements are completed and a certificate of occupancy issued. The tax abatement starts at 100 percent and drops to 10 percent in the seventh year. Amar has not yet started receiving benefits from the program, since none of the projects are completed.

Reyes said he has spoken with Amar since his arrest and received updates on the ongoing projects. In addition to continuation of his plans for Bank Street, Reyes said Amar is in the early stages of design work for 123 State St., where Amar has indicated his desire to restore the historical facade. The building has been vacant for decades.

News of Amar’s reported continued investment — he has declined to speak with The Day — comes even as another downtown investor, Eric Hamburg, has abandoned his plans to rehab the historic Capitol Theater at 15 Bank St. The 21,408-square-foot building is listed on the real estate market for $799,500 as Hamburg concentrates his efforts on four other downtown buildings.

Amar’s case remains pending in a Rhode Island court and few details have emerged since the Rhode Island attorney general’s office released an arrest warrant affidavit outlining the breadth of the charges. Amar is charged with four counts of bribery, three counts of conspiracy to obtain property under false pretenses and multiple tax-related charges.

Among the allegations from Rhode Island state police is that Barlow, who is the Twin River casino’s former senior vice president of operations, incurred $340,000 in debt to Amar through purchases of residential and commercial properties in New London. Barlow, authorities allege, later used his position at the casino to steer casino vendors and contracts to Amar in exchange for debt relief.

Public records show that Amar and Joseph Grillo now own five downtown New London properties but that Barlow was a partner in the limited liability corporation called Academy Group Properties LLC that purchased at least two of those properties, including 147 and 153 Bank St., in 2013. Property records show ownership shifted to different LLCs without Barlow’s name in 2017. An LLC created by Amar shares ownership with Barlow at a property at 184 Pequot Ave., Unit 206.

Grillo could not be reached for comment.

Creating an LLC for a building purchase is common in the development world and public records show Amar, with a Nassau County, N.Y., address, is listed as the manager or member of 28 different LLCs in multiple states. Several of those LLCs, active or dissolved, list an address of 11 Spruce Lane in Montville, a home owned by Barlow.

Barlow and his attorney in the pending criminal case could not be reached for comment.

Amar's Rhode Island defense attorney, Kevin J. Bristow, said he was limited by court rules as to what he could say publicly while the matter is pending.

“However, I am comfortable stating that Mr. Amar denies the allegations and accusations that have been brought against him by the R.I. Department of Attorney General. Up to this point, Mr. Amar has had absolutely no role in the charging process and no involvement in that process. Mr. Amar is factually innocent of the charges and he looks forward to the opportunity to defend himself. He expects to be fully exonerated once the matter is heard in court.”

Bristow said the charging process was the investigation initiated by the Rhode Island State Police and run by the attorney general’s office. The evidence was presented to a state grand jury, which returned an indictment with 30 felony charges against Barlow, Amar and an Amar business associate, Jill Feldman.

“Mr. Amar had no right or ability to be involved in this investigative and charging process. The state police never took a statement from him and he was not asked if he wished to testify before the grand jury,” Bristow said.

g.smith@theday.com