Redding forecloses on wire mill
In June 2014, the Town of Redding began the foreclosure process against the Georgetown Land Development Company and JP Industrial Park LLC, owners of the Gilbert and Bennett Wire Mill property.
On June 29, 2015, one year later, after multiple meetings with owners and creditors, with unpaid property taxes, interest and lien fees totaling over $2.8 million, the town of Redding has commenced a foreclosure action in Danbury Superior Court.
There are 14 defendants in the lawsuit including Georgetown Land Development Company and the Georgetown Special Taxing District.
Joining the town of Redding as plaintiffs are the Georgetown Fire District and the Redding Water Pollution Control Commission. If no other resolution is reached, a foreclosure would allow the town to assume ownership and control of the property.
The status of the project at the Gilbert and Bennett Wire Mill site, stalled since 2008, remains largely unchanged.
The 50-acre brownfield site is considered a model for transit-oriented development and the adaptive reuse of one of Connecticut’s few remaining historic mill sites.
An approved master plan for redevelopment envisions a mixed-use community anchored by historic mill buildings, which are to be adaptively restored and reused.
An economic impact study in 2004 detailed the positive fiscal impact of the project to Fairfield County and Redding in new job creation, net new tax revenues, and an improved quality of life for area residents, while removing the blight of a defunct mill property and returning it to productive use.
In 2014, the state Department of Economic Development approved a $5.6-million grant to the Georgetown Special Taxing District — $2 million to reconstruct the river walls and $3.6 million to complete intersection work.
To date, the Georgetown Special Taxing District has not been able to meet the terms of the grant to secure the funding and begin the work, however, the state has indicated it would continue the availability of the funding while the town’s foreclosure action is ongoing.
This article was released by Redding First Selectman Julia Pemberton on July 15.