City Council Approves Redevelopment Plan
The
City Council has approved the redevelopment plan for the 60-acre
The
$500 million plan changes the area's zoning to “mixed-use”, and calls for
building two hotels, two office buildings, residences, and retail stores in the
sixty-acre site bounded by Route 4 to the north and Route 95 to the south.
Proponents
of the plan expect the five-year project to clean up an underutilized and
contaminated industrial site, bring new jobs and residents to the city, and
increase tax revenue by over $3.5 million after allowing for the costs of
increased services provided to the area.
Opponents,
including Councilman Michael Wildes, feel the project is moving along too
quickly without adequate review. They
see increased traffic and pollution from as many as 6000 new cars each day and
question whether the projected increase in tax revenues will be realized. They are also sympathetic to the current
businesses in the area that will be displaced by the project. These property owners have filed a lawsuit
against the city charging that the plan is unlawful.
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