Minutes of the Old Lyme Economic Development Commission of the Meeting of 10/7/15
Meeting commenced at 8 AM in the Old Lyme Town Hall. Present were Bob Jose, John Stratton, Susan Howard, Howard Margules, Joe Camean and Bill O’Meara
We discussed the following topics:
1. Real estate news from last month showed 156 units for sale, of those, 12 under contract. In other real estate news, the Dunkin Donuts is renovating the former Koffee Works’ spot on Halls Rd and should be open soon. NY and Boston areas are doing well in both residential and commercial real estate.
2.Discussion on economic drivers for town. Majority felt River COG has a regional plan that will shed light on the region with a focus on the larger towns. EB is the only real employment driver in our area at this time and the real positive aspect for our town is the excellent school system. However, the town is unable to attract younger folks to live here for a number of reasons including the cost of real estate and lack of apartments. Maybe Sound View development over the next few years will offer affordable housing possibilities.
3. No change in news on the bike/hiking trail development .
4. Discussion regarding the possibility of the A&P Liquor store going out of business forced by a corporate bankruptcy. Will know by late October 2015.
5. We talked about the OL farmers market looking for a new organizer and home in town with the possibility of the town providing a site. Could be an economic stimulus for the town however no real town support at this time.
6. Meeting adjourned at 9:00 AM.
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