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Northland Electric offers to buy 2 acres in Northeast Business Center; committee recommends council review
Summary
The Economic Development Committee reviewed an offer from Northland Electric to buy 2 acres in the Northeast Business Center, discussed price credits tied to assessed value, and recommended the offer be forwarded to the City Council with amendments on acceptance date and a five‑year right of first refusal for the adjacent lot.
The City of New London Economic Development Committee on April 22 recommended the City Council consider an offer from Northland Electric to purchase two acres in the Northeast Business Center.
City staff said Northland Electric submitted an offer to buy two acres to expand its operations and build a combined assembly/storage building with two business suites. The committee was asked to recommend that the council approve the sale with amendments to the buyer’s acceptance deadline and language addressing a right of first refusal on the adjacent lot.
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