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Redding gets win in state Supreme Court over Gilbert & Bennett site

Redding has gotten another favorable ruling from the Connecticut Supreme Court when it comes to the former Gilbert and Bennett wire mill site.  Connecticut Insider reports that the justices ruled in favor of the town on all counts, ending a years-long battle.  Redding began the foreclosure process against Georgetown Land Development Company in 2014. 

Redding is owed millions in back taxes when the property wasn't redeveloped, and argued that the municipality should be paid before the taxing district.  A 2016 ruling went in favor of the town, but RJ Tax Lien Investments argued the district’s claims are equal to the town.  The special taxing district is overseen by the same company that owns the site, which includes the old mill.  The local authority created in 2005 so developers could issue government-backed bonds is owed the most money. 

The company wanted to build a new train station and created a mixed use development with hundreds of housing units and business space.  The 55 acre site remains mostly vacant because plans came to a halt with the 2008 recession.  Foreclosure could allow the town to commission housing on the site, or sell it to another developer.

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Rich Valdes

Local Headlines