During the New Milford Town Council meeting, a presentation was made about a development proposed for the Century Brass property. The old Century Brass Mill property is 72 acres along Housatonic Avenue and Aspetuck Ridge Road. The land was acquired by the town in 1999 through a foreclosure process. It's a designed brownfield site.
Texas-based Panda Power Company has proposed a twin turbine, air cooled, natural gas electricity generation plant. The company wants to build a 550 megawatts plant, enough to power 500,000 homes.
Mayor David Gronbach says the land was appraised at $2.4 million, but Panda Power could pay $2.8 million under a tentative agreement proposal. Gronbach says the investment is estimated at $600 million, and would employ 300 to 500 people over the course of an estimated 2.5 year construction period. 30 full time jobs will be generated when the plant is operational.
Gronbach says challenges to selling or developing the site have included limited access by road due to the a low bridge and the ongoing environmental cleanup.
The Economic Development Commission is meeting about the plan at 5:30 tonight. The Town Council will take up the item again at their meeting on the 24th.