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Committee recommends Keating lease and reviews Riverside, fire station feasibility and fund balances
Summary
The Middletown Economic Development Committee recommended that the city council approve a 3,000 sq ft lease at Keating for a cosmetics company, reviewed Village at Riverside due-diligence and remediation plans, and discussed a paused $24,000 Cross Street fire station feasibility study pending a dispatch center referendum.
The Economic Development Committee voted by voice Sept. 10 to recommend that the City Council approve a proposed 3,000-square-foot lease at the Keating building for a cosmetics distribution and manufacturing company.
Brian Gartner, staff to the committee, described the applicant as a local cosmetics company looking to expand operations from Stack Street and said the lease would generate maintenance and operating revenue for Keating. "They are a cosmetic, distribution and manufacturing company… their products are popular," Gartner said. The committee discussed lease terms; staff described the contract as the standard boilerplate lease tailored to the space. The recommendation will be forwarded to the full council for final approval.
Committee members also received updates on several ongoing items. Staff reported the Village at Riverside project is in due diligence and that a BRRP filing (a limited liability remediation program) will be submitted to set a remediation schedule for on-site contamination, citing a 7,000-gallon heating oil tank as an example of on-site work needed.
Members discussed a previously authorized $24,000 allocation tied to a Cross Street Fire Station feasibility study and were told the work is on pause pending the result of a referendum on a new dispatch/911 center; staff said the dispatch decision could make the study unnecessary if the dispatch center moves off-site. The committee also reviewed economic development fund balances presented in the packet, including a restaurant lease balance of $7,140.48 and rental income balances totaling about $80,001.89.
Staff provided an updated Keating tenant map and said the committee still has a proposed 6,000-square-foot lease under consideration for Board of Education storage; the committee noted the space has no environmental controls and stressed the need to finalize arrangements before an upcoming school referendum.
The committee approved items by voice where recorded and directed staff to continue processing the Keating lease and to return with additional information on remediation and the feasibility study as needed.
