Fountain Lake
Content
RESO},UIIqN
#4
-
Regular Meetinq F
$EiuEixtr.s'r{}fi'rllF RESOLUTTON tN SUPPORT OF FOUNTAIN LAKE DEVELOPMENT
I
ISFEB
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Ansonia Board
the Board of Aldermen recognizes the historic significance of the Farrel-?orfiiniGliitd&ti6ii Y $t as a leader in the manufacturing industry and significant source of employment and ec6flt?fii8.eltti{#t{f'tl[{]t within the City of Ansonia; and W!-IEREAS,
the Board of Aldermen understands the intention of the Farrel-Pomini Corporation to relocate from the downtown area and consolidate operations, administrative offices and a laboratory into one modern and efficient facility; and
WHEREAS,
WHEREAS, The Farrel-Pomini Corporation has been in negotiations
with
RD Scinto and Associates, lnc.
to develop a new facility at Fountain Lake at Ansonia's Fountain Lake Commerce Park; and the Board of Aldermen recognizes that the improvement of a 1,100 linear foot access road leading from the base of Fountain Lake to the development site has proved to be a substantial financial obstacle for the feasibility of the development of the Farrel-Pomini facility at Fountain Lake; and
WHEREAS,
the Board of Aldermen appreciates the importance of retaining the Farrel-Pomini Corporation within the City of Ansonia for the purpose of promoting economic vitality, a strong tax base and new employment opportunities for its residents; and
WHEREAS,
the Board of Aldermen recognizes that the action of Ansonia to defray costs associated with the access road is crucial for the successful development of the facility and needed to prevent the relocation of Farrel-Pomini outside of the City of Ansonia; WHEREAS,
SO BE lT RESOLVED by the Ansonia Board of Aldermen that the City of Ansonia make the following
commitments to the Farrel-Pomini Corporation and RD Scinto and Associates, lnc., contingent on any and all additionat approval required by the Connecticut General Statutes and Charter of the City of Ansonia:
1.
The City of Ansonia will accept title and ownership of the 1,100 linear foot access road presently owned by Fountain Lake, LLC and, upon the conveyance, the access road shall become a public road. The City of Ansonia shall complete the construction of the access road in accordance with Farrel-Pomini Corporation's requirements and in accordance with all federal and state guidelines.
2.
The City of Ansonia is committed to securing the necessary funding for the improvement of the access road, estimated to be 51,359,900, with federal and/or state grant money obtained for the purpose bf economic development. Notwithstanding the initial estimate of $1,359,900, the City of Ansonia shallsolicit bids
forthe construction of the access road dnd
R.D. Scinto, lnc. shall
be responsible for any amount in excess of $1,000,000.00.
a.
The City of Ansonia has applied for a $1,000,000 grant from the United States Economic Developmeqt Administration ("EDA"), and is in the process of applying for a 5700,000
grant from the Connecticut Department of Economic and Community Development.
lf
received, these funds will be committed to funding the access road improvements up to a maximum amount of S1,000,000.00.
b.
In the event that the City of Ansonia's grant application
to
EDA is not approved, the City
of Ansonia will remain committed to the construction of the access road. Every attempt
will be made to construct the access road with grant funds. Ansonia will request permission from the State of Connecticut to commit 100% of a.S500,000 Urban Act Grant to be used for the construction of the access road. The City will also make a good faith effort to seek out additional sources of grant funds from the state and federal government to complete funding for the project.
3.
The City of Ansonia acknowledges that the completion of the access road prior to September 1,
2015 is essential for the relocation of Farrel-Pomini to Fountain Lake. Therefore, the City of Ansonia shall cause the access road to be completed by September 1, 2015 (the "Outside Date"). ln the event that the access road is not completed by the Outside Date, R.D.S. Construction, lnc. shall be authorized to complete the access road.
4. The City of Ansonia further agrees to sell that certain Promissory Note dated November 28, 2006 in the principal amount of $1,008,000.00 made by Fountain Lake, LLC to the City of Ansonia to Fountain Lake, LLC for One (51.00) Dollar.
5.
The City of Ansonia understands that the Board of Aldermen's approval of this resolution shall cause Fountain Lake, LLC to proceed with the consffuction of the new Farrel-Pomini facility at
Fountain Lake.
#4
-
Regular Meetinq F
$EiuEixtr.s'r{}fi'rllF RESOLUTTON tN SUPPORT OF FOUNTAIN LAKE DEVELOPMENT
I
ISFEB
ffi:35
fiH
Ansonia Board
the Board of Aldermen recognizes the historic significance of the Farrel-?orfiiniGliitd&ti6ii Y $t as a leader in the manufacturing industry and significant source of employment and ec6flt?fii8.eltti{#t{f'tl[{]t within the City of Ansonia; and W!-IEREAS,
the Board of Aldermen understands the intention of the Farrel-Pomini Corporation to relocate from the downtown area and consolidate operations, administrative offices and a laboratory into one modern and efficient facility; and
WHEREAS,
WHEREAS, The Farrel-Pomini Corporation has been in negotiations
with
RD Scinto and Associates, lnc.
to develop a new facility at Fountain Lake at Ansonia's Fountain Lake Commerce Park; and the Board of Aldermen recognizes that the improvement of a 1,100 linear foot access road leading from the base of Fountain Lake to the development site has proved to be a substantial financial obstacle for the feasibility of the development of the Farrel-Pomini facility at Fountain Lake; and
WHEREAS,
the Board of Aldermen appreciates the importance of retaining the Farrel-Pomini Corporation within the City of Ansonia for the purpose of promoting economic vitality, a strong tax base and new employment opportunities for its residents; and
WHEREAS,
the Board of Aldermen recognizes that the action of Ansonia to defray costs associated with the access road is crucial for the successful development of the facility and needed to prevent the relocation of Farrel-Pomini outside of the City of Ansonia; WHEREAS,
SO BE lT RESOLVED by the Ansonia Board of Aldermen that the City of Ansonia make the following
commitments to the Farrel-Pomini Corporation and RD Scinto and Associates, lnc., contingent on any and all additionat approval required by the Connecticut General Statutes and Charter of the City of Ansonia:
1.
The City of Ansonia will accept title and ownership of the 1,100 linear foot access road presently owned by Fountain Lake, LLC and, upon the conveyance, the access road shall become a public road. The City of Ansonia shall complete the construction of the access road in accordance with Farrel-Pomini Corporation's requirements and in accordance with all federal and state guidelines.
2.
The City of Ansonia is committed to securing the necessary funding for the improvement of the access road, estimated to be 51,359,900, with federal and/or state grant money obtained for the purpose bf economic development. Notwithstanding the initial estimate of $1,359,900, the City of Ansonia shallsolicit bids
forthe construction of the access road dnd
R.D. Scinto, lnc. shall
be responsible for any amount in excess of $1,000,000.00.
a.
The City of Ansonia has applied for a $1,000,000 grant from the United States Economic Developmeqt Administration ("EDA"), and is in the process of applying for a 5700,000
grant from the Connecticut Department of Economic and Community Development.
lf
received, these funds will be committed to funding the access road improvements up to a maximum amount of S1,000,000.00.
b.
In the event that the City of Ansonia's grant application
to
EDA is not approved, the City
of Ansonia will remain committed to the construction of the access road. Every attempt
will be made to construct the access road with grant funds. Ansonia will request permission from the State of Connecticut to commit 100% of a.S500,000 Urban Act Grant to be used for the construction of the access road. The City will also make a good faith effort to seek out additional sources of grant funds from the state and federal government to complete funding for the project.
3.
The City of Ansonia acknowledges that the completion of the access road prior to September 1,
2015 is essential for the relocation of Farrel-Pomini to Fountain Lake. Therefore, the City of Ansonia shall cause the access road to be completed by September 1, 2015 (the "Outside Date"). ln the event that the access road is not completed by the Outside Date, R.D.S. Construction, lnc. shall be authorized to complete the access road.
4. The City of Ansonia further agrees to sell that certain Promissory Note dated November 28, 2006 in the principal amount of $1,008,000.00 made by Fountain Lake, LLC to the City of Ansonia to Fountain Lake, LLC for One (51.00) Dollar.
5.
The City of Ansonia understands that the Board of Aldermen's approval of this resolution shall cause Fountain Lake, LLC to proceed with the consffuction of the new Farrel-Pomini facility at
Fountain Lake.
