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Land Resources / News / Connecticut

Aldermen OK $1.6M farmland purchase

Source: ctpost.com, by Frank Juliano
April 04, 2011
The Board of Aldermen unanimusly agreed Monday night to spend $1.6 million to buy 13.5 acres of farmland smack in the middle of an industrial zone and to "land bank" it for the future.

The board also approved bonding for the purchase and a cash advance to secure it with a deposit. Several speakers who addressed the board in its public comment period strongly endorsed the purchase, despite the annual $85,000 financing cost for the next 20 years, saying that the purchase protects the city from a developer using the site for something that could damage the environment.

Read the complete article from ctpost.com »

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