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Bloomfield submits $11.7M CIF application for town center; garage cost shifted to developer
Summary
Town staff told the committee the town submitted a Round Nine CIF application for roughly $11.7 million to support town center redevelopment; the application removes an approximately $8 million parking garage cost so any garage would fall to a future developer. The application targets multiple properties for acquisition, including the mall and the old farmers exchange site.
Mr. Coleman told the committee the town has submitted a Round Nine CIF application for the town center ‘‘for about 11.7 million’’ and expects an answer in September. He said the application scope was revised to remove the cost of a parking garage so ‘‘the garage cost will now fall on any developer’’ rather than the town.
The staff presentation named four properties the town would seek to acquire if the project proceeds: the mall, the bank parcel, the liquor store and the old farmers exchange site. Coleman said the center plan and redevelopment plan authorize the town center EDC to act as a redevelopment agency and to acquire and develop property, but noted that ‘‘if there’s any expenditure of funds by the town, that has to be approved by the town council.’’
Coleman also flagged implementation details: staff and the applicant are finalizing the project book, and the town retained the consultant PDF so Nick will be trained to make edits after the consultant’s materials are converted. He added the gas station parcel identified for possible acquisition ‘‘would require some brownfield remediation.’’
Why it matters: the CIF application is the primary near-term funding vehicle for the proposed town center redevelopment; shifting the garage cost reduces the town’s up-front capital request but leaves parking financing to a future developer and preserves the council’s oversight on any town-funded expenditures. The committee did not take a formal vote on the project at this meeting.
Next steps: staff will complete the application process and await the state’s decision in September; any town expenditures would require town council approval.
