Should The Town Act as a Developer?
Should The Town Act as a Developer?
To the Editor:
The Legislative Council is presently considering the Capital Improvement Plan (CIP) submitted by the selectmen and Board of Finance. The plan provides $3.4 million to be bonded over a 20-year period to install sewers, water, and a road to create eight commercial building lots on the 72.5-acre parcel in Commerce Park as a technology park, including the required amount of open space. The town plans to sell these lots to prospective buyers.
In 1990, the Curtis Packaging Company prepared land on Toddy Hill Road to become the Curtis Corporate Park. After arranging for waste disposal, etc, it obtained approval from Planning and Zoning to offer 12 lots for sale in 2002. Thus far, they have sold three lots with a deposit on a fourth. The lots are 1 acre to 4.75 acres. Prices range from $250,000 to $700,000. The company website is www.curtiscorporatepark.com. The lots are selling about one per year, which indicates how quickly the town might be able to sell the proposed lots in Commerce Park or lease the proposed office space at Fairfield Hills (about 50,000 sq ft).
When the need arises for commercial space, private developers move in. Now under construction is 17,000 sq ft near Big-Y, 68,000 sq ft at Sand Hill Plaza South, 12,805 sq ft in Waterfall Plaza (formerly Newtown Manufacturing), and a yet to be approved commercial space north of Sand Hill Plaza and another on South Main across from the self-storage units. An additional 41,639 sq ft of existing office space is currently listed for lease. When town offices are moved out of the leased Kendro facilities on Peckâs Lane, another 200,000-plus feet office space will be available. Future private development of the Hawleyville commercial property is expected.
Should the town act as a developer and spend this $3.5 million or should the town sell the property to a developer to let him take the risks of finding occupants in a timely manner and recovering his investment costs? Would citizens be better served if the $3.5 million were used to replace the swimming pool at Dickinson Park, build a new Senior Center, or create a high school facility at Fairfield Hills, etc? Does the town have the expertise to develop and market a commercial venture of this size? Who will really make money from such a venture?
The council must struggle with the underlying philosophy in the coming week. Should government step aside and let our free enterprise system work or should government subsidize development, take the risks, speculate all will go well, and hope the results justify the expenditures? The selectmen are taking the town is the direction of acting as developers both in Commerce Park and Fairfield Hills. What do you think?
Ruby K. Johnson
16 Chestnut Hill, Sandy Hook                              January 10, 2006