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Westfield says it preserved redevelopment rights as Sachs works through bankruptcy; resident disputes $153,000 claim
Summary
Mayor Bernard said the town has taken legal steps to protect redevelopment rights for One Westfield Place and said the bankruptcy includes a $153,000 repayment to the town; a resident told the council she could not find a court order on that payment and said the town's objection appears unresolved.
Mayor Bernard told the Town Council that Westfield has retained bankruptcy counsel and has taken "additional legal steps to preserve our rights under the existing redevelopment agreements and to ensure that any obligations owed to the town are properly addressed as part of the bankruptcy process." He said the bankruptcy proceedings around Sachs's ownership of the former Lord & Taylor site include a repayment "of $153,000 to us by Sachs, which the bankruptcy court has agreed to include as part of their obligations." He also said Sachs has secured about $500 million of exit financing and the company is expected to emerge from bankruptcy in the coming weeks.
The mayor framed the bankruptcy as creating uncertainty but also an opportunity to reevaluate the project's scale and mix of uses, and said the town council is aligned on exploring modifications that would better reflect current market conditions. He said any redevelopment plan will return for public review, with funding and timelines to be finalized before work begins.
Courtney Shell, a Westfield resident who identified herself with an address for the record, challenged the mayor's description of a court-ordered repayment. "I've been looking at the docket daily and I haven't seen that," she said. "All I've seen is that there's a pending objection filed by the town's attorney asking for a cure payment ... I don't think there's been anything definitive ordered by the court on that." Shell cautioned that bankruptcy plan confirmations are based on financial projections that do not always play out, and urged the council to scrutinize Sachs's financial assurances and assignment provisions so the town does not end up with further delays or an unfinished project.
Another resident, Carla, urged the council to adopt a more robust, early community-engagement process as the town contemplates changes to the redevelopment plan and said Westfield Advocates has volunteers who can help.
No final decisions on redevelopment were made at the meeting. The mayor said the town will continue communicating developments as the bankruptcy process proceeds and the council will have opportunities to review any new proposals before they are approved.
