New Haven Independent

Posted by: facChek | April 8, 2008 12:53 PM

From the Charter city of New Haven

ARTICLE III. NEW HAVEN DEVELOPMENT

Sec. 21-14. Development commission.
f) In the implementation of its powers and duties conferred by state law, said commission shall engage in the following services related to municipal development, including, but not limited to:

10) To advise and make recommendations to appropriate officials, agencies, boards, departments and commissions of New Haven, including the mayor, the board of aldermen and the city planning commission, regarding actions which, in said commission's judgment, would affect or improve the economic condition and development, or physical environment, of the city.

"The matter now goes to the Redevelopment Authority, which is likely to vote on it at its April 22 meeting. It then goes to Mayor John DeStefano Jr. for his signature".

QUESTION: What about the measure going to the Board of Aldermen for a public hearing and vote??

Posted by: robn | April 8, 2008 12:57 PM

So if the K of C is such a good corporate citizen, do you think that they'd consider giving 1 State Street back to the city since its worth $6 million and they only paid 600 thousand for it?

Posted by: facChek | April 8, 2008 1:00 PM

Also from the charter, city of New Haven

Sec. 21-9. Sales, leases of land by agency to redevelopers or public agencies.
The redevelopment agency may sell or lease, for such sums as may be agreed upon, the whole or any part of a redevelopment area to the redeveloper, or, if the property is to be used for public purposes, to an appropriate public agency. The consideration paid for the sale or lease of the property shall be determined by the redevelopment agency, provided, if the cost or carrying charges of such land to the redevelopment agency are greater than such consideration, the redevelopment agency shall first have specific authorization from the board of aldermen for the sale or lease at any lesser consideration, and the city may appropriate and authorize the expenditure of money to compensate for any portion of the difference between the acquisition cost of such property and such sale or lease price of such property at a lesser consideration to a redeveloper, but in no case shall sale or lease price be lower than the use value of such property. Each contract for sale or lease to a redeveloper shall provide, among other things that the property transferred shall be developed and used in accordance with the redevelopment plan or such plan as modified with the approval of the redevelopment agency, that the building of the improvements shall be begun within a period of time which the redevelopment agency fixes as reasonable and that all transfers of properties by the redeveloper shall be subject to the consent of the redevelopment agency. Any contract for sale or lease shall be approved by the board of aldermen before its final approval by the redevelopment agency.

Ok.. so the Redevelopment agency must send the measure to the BOA before their final approval, and definitely, before the Mayor signs on.

Posted by: cedarhillresident | April 8, 2008 1:26 PM

I have to say....THIS IS A GOOD THING!! BRAVO! This is a worldwide company, I would love to them expand in New Haven!!

Posted by: Hartford Johnson | April 8, 2008 3:45 PM

Now, if they'd only drop the chauvinistic "Knights" in their name for something not insulting to women or to Muslims sensitive to the Crusades, and remove as well all reference to the explorer "Columbus," who blazed the trail for European hegemony, the City of New Haven will have really accomplished something worthwhile.

Posted by: Gary Doyens | April 8, 2008 3:49 PM

Chalk up another 2 miracles. The city got paid fair market value for taxpayer owned property. The city actually knew what the property was worth before they sold it. Holy smokes.

Posted by: WhatUp | April 8, 2008 4:50 PM

Hey Hartford, you have got some chip on your shoulder.

Posted by: robn | April 8, 2008 8:41 PM

One more try...

Why is the KofC's Downrtown concrete construction high modernist building tax assessed at @ $100/sf (not even including the covered parking square footage) while East Rock residents are assessed at the same rate for wood frame construction that generates no income? Of course, I'm jumping to the conclusion that the KofC IS paying taxes on the property.

Posted by: cedarhillresident | April 9, 2008 8:09 AM

robn
They do pay property taxes. And my uneducated answer is ...........State of Connecticut needs PROPERTY TAX REFORM!!! Untill then we pay the same! And that sucks!!! Say good by to the middle income starting in JULY watch how many more go in foreclosure!!!

Here New Haven is #6 nation wide in foreclosures right now!!
http://www.forbes.com/2008/02/12/rates-foreclosure-housing-forbeslife-cx_mw_0213realestate_2.html

Posted by: write&wrong | April 9, 2008 1:32 PM

RobN, your comment about the knights selling back #1 State is a joke. Perhaps everyone in New Haven who bought property and that property increased in value should sell it back. Please...give me a break! Any time New Haven or any city/town receives this kind of investment it should be applauded.

Posted by: DowntownNewHaven | April 9, 2008 2:19 PM

"He said the small size of the property ruled out anyone else building on it, so a sale to the Knights was the best use."

The site is 25,000 SF - several times larger than the average downtown building. Anyone care to explain?

Posted by: Hartford Johnson | April 9, 2008 2:46 PM

Whatup, There's no chip I can see: my comments were made tongue-in-cheek! In laughter, "West" Hartford Johnson

Posted by: robn | April 9, 2008 6:02 PM

w&w,

I believe that its uncommon for a real estate to appreciate 1000% in 13 years. So on its surface it appears that the city sold to a fabulously profitable insurance company, a fine building for dime on the dollar. The city would have made twice as much if they just boarded up the office space and rented the parking spaces for the past 13 years.

Posted by: robn | April 9, 2008 10:28 PM

cedarhill

Agreed about property tax reform and the current state of suckiness. (THANKS A LOT LEG!)

Thats good research and thank you for the Forbes link, however, the Forbes rating in this particular chart is based upon rate of change...so if I were a town with one forclosure in one year and 20 foreclosures in the next year, I would be at the top of their list with a 2000% change, even If I had a gazillion households. I pulled their chart into excel, resorted it by percentage of households (the Have's got 1.093% in foreclosure btw...a hair above the median .993), and New Haven came up 43rd out of 100. Still not good, but not as grim as number 6.

Posted by: Colleen Van Tassell | April 10, 2008 12:32 PM

Perhaps the pro-family Knights will build a daycare for their employees and not dock mothers for being only a few minutes late to work because of childcare issues.

Posted by: write&wrong | April 10, 2008 2:34 PM

Robn

Thanks for the advice. Lets board up the entire city and wait until the economy improves. Can we start in your neighborhood?

Listen...we are year 1 into a 10 year decline in housing/real estate. Things are going to get alot worse for everyone. Knights included. We gotta keep our heads on and be creative.

Posted by: robn | April 10, 2008 5:45 PM

w&w,

I've made no claim that KofC underpaid for the recent transaction. I'm simply pointing out that in 1994 (approximately 45 days after John DeStefano was sworn in) the KofC was given what appears to be a sweetheart deal on a nice piece of property. Since you're not touching the 1000% appreciation, I can only assume that you have no argument my facts.