City presents departmental updates: AA- bond rating, Yankee Peddler redevelopment progress, solar arrays and tax impacts, salt supply and Aquarion talks

Multiple department heads briefed the Board of Finance on Tuesday with updates on municipal finance, property redevelopment, utilities and winter operations.

Dan Farley, treasurer, said Torrington maintained its Standard & Poor’s long-term rating of AA- and an SP-1+ short-term rating for bond anticipation notes. He said the city’s final official statement will be circulated to board members and bond sales were scheduled for the following Wednesday. Farley said the rating reflected strong municipal practices but cited local income levels as a metric keeping the city at AA-.

Mayor Bridal and staff gave a detailed update on the Yankee Peddler receivership and the Torrington Development Corporation’s work: the corporation issued a request for proposals and logged roughly 40 contacts, received four…