Economic Development Commission

City Middletown, CT Economic Development Committee Minutes from the Economic Development Committee Special Meeting February 23, 2022 Meeting was conducted via video conference call Present: V. Loffredo, T. Gennaro, J. Blackwell, P. Pessina Absent: E. McKeon Executive: Staff: J. Samolis, T. Marano Council: Meeting Minutes 1. Call to Order: Chairman V. Loffredo called the meeting to order at 7:01 PM 2. Minutes Special Meeting of January 24, 2022: P. Pessina made a motion, seconded by J. Blackwell to approve the minutes of the Special Meeting of January 24, 2022. Vote: Unanimous in favor of the motion. 3. Public Session: Jeff Pugliese, Vice-President of the Middlesex County Chamber, said it supports the following items on the agenda: Tax incentive agreements, Phase I and Phase II, and the land swap between the City and D&V Development. Supports the parking lease for Adath Isreal and the acquisition of 31 Rapallo Avenue and the authorization as the building committee for the rehabilitation of the Keating building. Natasha Ortiz supports the Landmark Develop projects and the minority set asides. Atty. Timothy Lee represents Landmark Development. He said the project benefits many aspects of the City. V. Loffredo closed the Public Meeting 4. Communications: Glenn Russo submitted three articles via email which discussed inflation, the potential for rising interest rates and the shortages and price hikes for building materials. 1 5. Old Business Newfield Street of Middletown, LLC Phase I and II Proposed Tax Incentive Agreements/Ordinances: Chairman Loffredo moved this item to first under Old Business. GC Brig Smith summarized the agreement and the way the two phases breakout. J. Samolis reviewed the two-phased agreement and the details of each. The members discussed the agreements. V. Loffredo made a motion, seconded by J. Blackwell, to forward the agreement to the full Common Council. Vote: Unanimous in favor of the motion a. Update: $55 Million Bond: J. Samolis reported most of the funds recently invested from this bond authorization have been used for the riverfront planning. Vote: No vote was taken b. Update: Arcade Development: J. Samolis informed the members the department will issue an updated RFQ with more images and language on the City’s commitment to parking improvements and potentially moving City Hall. Vote: No vote was taken c. Update: Riverfront Master Plan: J. Samolis reviewed the progress on the master plan. The consultants continue to interview small groups. There are new materials in the Main Street Market space. Vote: No vote was taken d. D&V Development of Middletown, LLC and City of Middletown Land Swap: J. Samolis reviewed this proposal. The City is swapping 4.8 acres on Kaplan Drive with D&V Development for a 25-acre piece on Newfield Street. Dominick DeMartino, Dominick DeMartino (son) of D&V Development and David Carson from OCC Engineers presented a plan for the land swap and a concept for the development. The members discussed the details of the swap and the proposed development. V. Loffredo made a motion, seconded by P. Pessina, to approve the land swap and forward the proposal to the Common Council. Vote: Unanimous in favor of the motion 2 6. New Business a. Congregation Adath Israel Parking Lease: J. Samolis reviewed the lease. The City leases 20 spaces in the Congregation’s lot on William Street property for off street permit parking. The lease is for four years. The members discussed the lease. P. Pessina made a motion, seconded by J. Blackwell, to approve the lease and forward it to the full Common Council. Vote: Unanimous in favor of the motion b. Acquisition of 31 Rapallo Ave: J. Samolis presented the resolution to purchase this land for parking in the North End. The property is adjacent to a City lot. Together the properties could hold 40 parking spaces. The City’s investment to purchase the property will be $300,000. The members discussed purchasing the lot, and how to fund improvements to it. V. Loffredo made a motion, seconded by J. Blackwell, to approve the purchase and forward it to the full Common Council contingent on the P&Z’s approval. Vote: Unanimous in favor of the motion c. Authorization to have EDC as the Building Committee for RM Keating Building Improvements: The members discussed the proposal. The new charter allows the EDC to become the Building Committee. V. Loffredo made a motion, seconded by P. Pessina, to approve the proposal and forward it to the full Common Council. Vote: Unanimous in favor of the motion Adjournment: J. Blackwell made a motion, seconded by A. Gennaro, to adjourn the meeting. Vote: Unanimous in favor of the motion Chairman Loffredo adjourned the meeting at 8:51 pm 3