1. Call Meeting to Order
Ms. Barbara Barbour called the meeting to order at 5:15 pm.
2. Roll Call
Members Present
Scott Andrusis
Barbara Barbour, Chairperson
Cile Decker
Members Absent
William E. Keohane
Guests
Shari Fiveash, Executive Director of the Chamber of Commerce
Matthew Galligan, Town Manager
3. Approval of Minutes of Previous Meeting
A motion was made to approve the December 5, 2012, March 13, 2013, May 1, 2013, May 14, 2013, and July 3, 2013 Meeting Minutes; the motion was seconded; and approved unanimously.
None
None
- Report of Executive Director
None
None
None
A. Resolution Concerning Reverter Provision in Deed to Connecticut Studios, LLC
BE IT RESOLVED that the Town of South Windsor and the South Windsor Redevelopment Agency, acting through their duly authorized officials, extend to December 3, 2013, the reverter deadline set forth in the fourth paragraph of a certain Statutory Form Quit Claim Deed to Connecticut Studios, LLC, dated October 26, 2009, and recorded at Vol. 2077, Page 183-184 on the land records of the Town of South Windsor, Connecticut, and as said reverter deadline has previously been extended; and
BE IT FURTHER RESOLVED that the Town Manager is authorized and directed to execute a Seventh Amendment to Quit Claim Deed extending the reverter deadline in accordance with the foregoing resolution.
Was made by Ms. Cile Decker
Seconded by Ms. Barbara Barbour
Town Manager Matthew Galligan explained why there was another resolution regarding the reverter. Both the Town Manager and the Town Council were under the impression that the previous resolution would keep the reverter clause intact until Connecticut Studios closed on the property. The Town Attorney advised the Town Manager and the Council that another resolution should be passed in order to cover all of the legal bases. The Town Council had a Special Meeting on Monday, September 30 to extend the reverter clause to December 3, 2013. The Agency discussed which Council members had voted for or against the Connecticut Studios project in the past.
Town Manager Galligan said that he was sent a recent closing list before the current meeting. Many of the key companies in the closing have updated their letters according to the recent changes. The fuel cell credits are the last updated item to be completed before closing.
Ms. Cile Decker mentioned that there is never any mention of the Redevelopment Agency in any printed articles regarding Connecticut Studios. Town Manager Galligan said that reporters hardly cover any Boards and Commissions except for the Town Council. In the past, reporters from the Hartford Courant would cover all of the Town’s agencies.
Ms. Barbara Barbour said that the Redevelopment Agency never received an opinion about its purpose from the Town Attorney. Town Manager Galligan said that he would follow up with David Panico from Robinson & Cole. Ms. Barbour
9. A) Continued
also mentioned that Mr. Panico never answered the Agency regarding whether or not they could be sued.
Mr. Scott Andrusis asked Town Manager Galligan if he had seen the updated letters for Connecticut Studios. Town Manager Galligan has only seen the letter that the Town has submitted. Mr. Dan Marsh has seen and reviewed all of the updated letters. Ms. Barbour asked about Connecticut Light & Power’s relationship with the completion of the studio. Town Manager Galligan said all of the documents are related to each other. The fuel cell has to be built, and the Studio has to be built at the same time. Then CL&P will buy the power. The hotel will start construction four months after the Studio starts their construction.
Ms. Barbour asked about the timeline that Mr. Marsh was going to draft. Town Manager Galligan said that once the closing takes place, there will be a set timeline. The Agency discussed the two closings. The first closing will remove the reverter clause, and the second closing will take care of the banks and credits. There are six conditions that Connecticut Studios has to meet before the first closing in order to remove the reverter. Those six items are listed in the resolution passed on Wednesday, September 3, 2013.
Mr. Andrusis asked Town Manager Galligan how hard DCK is pushing to close on the property. Town Manager Galligan said that they cannot foreclose on the land because there is no Connecticut Statute that allows it. In a lawsuit, the Town would most likely win. DCK wants to sell their interest, and they have extended the timing to the end of October.
Ms. Barbour asked why the reverter should not be extended until 2014. Town Manager Galligan suggested following the dates proposed by the Town Council.
The motion was approved unanimously.
10. Adjournment
Ms. Cile Decker made a motion to adjourn at 5:42 pm; Mr. Scott Andrusis seconded the motion; and approved unanimously.
Respectfully submitted,
_____________________
Ashley Summers
Recording Secretary
(Approved 3/5/14)
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