Minutes of the Old Lyme Economic Development Commission Meeting of 11/5/14
Meeting commenced at 8 AM in the Old Lyme Town Hall. Present were Bob Jose, Susan Howard, John Stratton, Bill O’Meara and Gerry Foster.
We discussed the following topics:
1. Real estate news from last month showed 112 sold in town so far this year with 136 listings and 4 under contract. Market appears to have slowed particularly $400M and up, however, plenty of late summer closings reduced inventory and under contracts. Also, Shoreline Real Estate Company is for sale.
2.No new news on Soundview development program nor Main Street grant.
3 No news on the bike/hiking trail development.
4 Decided to pursue some business needs/development ideas in town .
5 Status and impact of sewer program in OL not clear at this time, however, some other areas raising sewer use fees by 15% next year to cover loss of users and increased expenses.
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