New London to sell remainder of Fort Trumbull properties
New London ― As of this week, all the properties on the Fort Trumbull peninsula are slated for development.
Parcels on the peninsula, which also is home to Fort Trumbull State Park, have been vacant for almost 20 years. The land was cleared for development in a move by the city that led to the landmark 2005 U.S. Supreme Court decision, Kelo v. New London, about the use of eminent domain.
In recent years, parcels have been been approved as the future site of new apartment complexes, an extended stay hotel and the city’s community center.
The City Council Tuesday approved the sale of the remaining 6.28 acres of property to RJ Development + Advisors LLC, the same developer building 203 apartments on Howard Street.
The land is owned and marketed by the city’s development arm, the Renaissance City Development Association.
According to a development agreement between RCDA and RJ Development, parcels labeled 1A and 3C were sold for $500,000 and parcel 4A was sold for $1. The developer agreed to pay a $30,000 deposit to show its commitment.
The agreement states the projects on the property will primarily consist of, but will not be limited to, “the construction of residential units to be offered for market rate sale or rent/lease,” with the associated parking and other improvements.
Councilor John D. Satti on Tuesday asked if the developer has called for any tax deferrals.
Peter Davis, executive director of RCDA, said the property is in a enterprise zone so there is a tax abatement that comes with the zone. He said the developer would have to work with the assessor on paperwork that needs to be filed.
Davis said he doesn’t know if the developer plans to ask for additional tax deferrals, but he did ask about an abatement for environmental remediation work. He said all the properties need environmental work.
Satti asked the city’s Law Director Jeffrey T. Londregan if there have been any discussions in reference to future tax abatements.
Londregan said he hasn’t been involved in any such discussions and that those discussions would have to come before the council, apart from the enterprise zone incentive.
Londregan said the enterprise zone is a state plan that gives local tax relief to developers over several years on a sliding scale.