Economic Development Commission

Committee Members Staff to the Committee Chairperson Councilman Vincent Loffredo Christine Marques, Director of ECD Members Councilwoman Jeanette Blackwell Brian Gartner, ECD Staff Councilman Anthony Gennaro Councilwoman Steven Kovach Councilwoman Linda Salafia ECONOMIC DEVELOPMENT COMMITTEE MIDDLETOWN CONNECTICUT REGULAR MEETING TUESDAY, JUNE 11, 2024 MINUTES A Regular Meeting of the Economic Development Committee of the City of Middletown was held on Tuesday, June 11 th 2024 at 7:00 PM. This meeting was a hybrid meeting with in-person participation in Room #208 of the Municipal Building and remote access via WebEx. Committee Members Present: Chairman Vincent Loffredo, Councilwoman Jeanette Blackwell, Councilman Anthony Gennaro, Councilman Steven Kovach, and Councilwoman Linda Salafia Staff Members Present: Mayor Benjamin Florsheim, Deputy Chief Albert, Brig Smith, Roger Palmer, Christine Marques, Brian K. Gartner Jr Members of the Public Present: Amy Vaillancourt, Ted Von Rosenvinge, Laura Crosskey, Rod Szwelicki, Trevor Davis, Richard Carella, Dylan Carlson, Rami Bagwell, Zoe Hecht, Chris Cambareri 1. Call to Order - Chairman V. Loffredo called the meeting to order at 7:00 PM. 2. Approval of Minutes 1. Minutes of the May 14th 2024 Regular Meeting. – Motion to APPROVE is made by Councilman Kovach, seconded by Councilwoman Blackwell and passed unanimously. 3. Public Session - None 4. New Business 1. Proposed lease agreement for The Middletown Board of Education at R.M. Keating (180 Johnson Street).  There was confusion and disagreement regarding a proposed lease agreement with the Middletown Board of Education.  Councilman Kovach indicated he was concerned about process and the purview of the EDC.  Motion to TABLE is made by Councilman Gennaro, seconded by Councilman Loffredo and passed with one abstaining (Councilman Kovach). 2. Amended and reinstated lease agreement for Tate’s, 80 Harbor Drive. • The scope of work outlined in the original lease, including tenant improvements, had to be changed significantly due to unexpected structural work and the associated reconstruction needs. • Due to the substantial structural improvements to the building the lease commencement date had to be pushed back which necessitates an amendment to the lease agreement. • The lease agreement is being re-adopted with two major changes: the deadlines are pushed back by two years and the lease rate for the first year is reduced to zero due to schedule overruns. • Motion to APPROVE is made by Councilman Kovach, seconded by Councilwoman Blackwell and passed with one abstaining (Councilwoman Salafia). 3. Proposed City purchase of property located at 195 deKoven Drive. • Item up for discussion is the proposed city purchase of a property located at 195 deKoven drive. If you require special accommodations for any meeting, please call the ADA Coordinator at (860) 638-4540, (voice) or (860) 638-4812 (TDD/TTY), or the Town Clerk’s Office at (860) 638-4910 at least ten (10) days prior to the scheduled meeting. Page 1 of 2  • The purchase price is $3 million, with an appraised value of $2.76 million. • The last appraisal of the property was done in 2022. • There will be an 18-month leaseback agreement for the current owner to continue operating their business. • The inclusion of the property is important for parking and the overall development plans for the area. • If the current property owner is unable to relocate within 18 months, the city has the right to ask them to vacate. • The total cost of the project, including the garage, plaza, and apartments, is estimated to be around $50 million. • The meeting discussed the construction of a parking garage and its cost, revenue, and ownership. • The number of parking spaces in the previous garage was uncertain, but it was mentioned that there would be designated parking spaces for the development and public parking. • Motion to APPROVE the Resolution authorizing the PSA, Lease and Escrow Agreement is made by Councilman Kovach, seconded by Councilwoman Blackwell and passed with two abstaining (Councilwoman Salafia, and Councilman Gennaro). 4. Feasibility study for the potential expansion of the MFD Cross Street Station, 169 Cross Street. • A feasibility study is proposed to evaluate the potential expansion/rehabilitation of the Cross street station, with an estimated cost of $25,000. • The station was constructed in 1970, and has had no substantial improvements since. • The condition of the firehouse is a concern, with issues such as lack of space and outdated facilities. • Discussion ensues about the need for repairs and upgrades to the building. • There is additional discussion of about potentially consolidating the fire districts and sharing resources to address needs and space constraints. • Motion to APPROVE the proposed expenditure of $25,000 from the Economic Development Fund is made by Councilman Kovach, seconded by Councilman Gennaro and passed unanimously. 5. Old Business 1. 21st Century Bond - No substantive update. 2. The Village at Riverside (Arcade Redevelopment Project) – See above for Item #4-3 3. Riverfront Master Plan - No substantive updates at this time. 4. 80 Harbor Drive – See above for Item #4-2 5. R. M. Keating – Discussion ensues about the workshop that took place prior to the Regular Meeting to tour the Keating Building. 6. Grant Earmarks - No substantive updates at this time. 7. 210 Dripps Road - No substantive updates at this time. 8. 17 Miller Street - No substantive updates at this time. 9. 20 Portland Street – An additional letter of interest has been received and shared with the committee. 10. Economic Development Fund Balance - Provided to the committee for their information. 11. National Register Designation for the Beman Triangle – Committee members request that staff follow up with Jesse Nasta from the Middlesex Historical Society for an update. 6. Adjournment A. Having no further business in front of the committee this evening the committee moved to adjourn. Page 2 of 2