March 24, 2014

GOV. MALLOY: INVESTMENT IN NEW MILFORD BROWNFIELD REDEVELOPMENT PROJECT WILL GENERATE STATE AND LOCAL ECONOMIC DEVELOPMENT AND JOBS

$2.5 Million On State Bond Agenda To Demolish, Remediate Former Century Brass Mill

(HARTFORD, CT) - Governor Dannel P. Malloy today announced the State Bond Commission at its next meeting is expected to approve $2.5 million in state funding to finance the town of New Milford's demolition of the deteriorated former Century Brass mill site. This project, which will create a total of about 50 construction-related jobs, is part of New Milford's efforts to remediate and redevelop the brownfield site - known as the Century Enterprise Center - and market the property to a private developer or other entity for revenue-generating industrial or commercial uses.

"The Century Enterprise Center has tremendous potential for commercial and 'green' industrial use that will generate economic development and create jobs, but for too long his site has sat unused," said Governor Malloy. "The state's investment in this project demonstrates our ongoing to commitment to work with municipal partners to restore blighted properties, bolster our economy and improve the quality of life for residents."

Although the 72-acre Century Enterprise Center has already undergone a multi-million dollar federal and state environmental assessment and cleanup, the property still includes a vacant brass mill contaminated with asbestos and PCB that must be demolished and disposed of properly before the town can move forward with redeveloping and marketing the property. The state Department of Economic and Community Development (DECD) will administer the funding to support the $3.7 million cleanup project.

"I'm very grateful for Governor Malloy's decision to partner with New Milford in helping to move this worthwhile project forward," said State Senator Clark Chapin (New Milford). "This additional investment by the state will greatly enhance the town's ability to transform the former Century Brass property from its idle state to a productive one."

Once completed, the Century Enterprise Center allow the town of New Milford to increase its industrial tax base in excess of $300,000 per year. With the assistance of the DECD, the town is actively marketing the property for possible future uses as a distribution center, a large retail complex or as a property for "green" industry.

"Remediating and redeveloping brownfield sites is crucial to the economic plans and goals of so many Connecticut communities, and New Milford is no different," said Rep. Cecilia Buck-Taylor (R-67). "This is welcome news for New Milford, and I hope it will serve as fuel for additional investment and development here."

"This is a huge investment in New Milford, marking the start of an economic transformation that will draw businesses, investors and opportunities to our community," said State Rep. Richard A. Smith (R-108). "This project will boost the town's profile as a competitive destination for industry, while breathing new life into a site that has long needed revitalization."

In 1999, New Milford obtained the former Century Brass fabrication mill, which has been closed since 1986, by tax foreclosure. The Century Enterprise Center represents approximately 15 percent of all industrial zoned land in town, is located less than one mile from U.S. Route 7 and is served by sidings from the Housatonic Railroad. With, federal and state assistance, New Milford has made additional investments totaling $4.4 million in sewer, water and road infrastructure improvements near the property.

The State Bond Commission is scheduled to vote on the item at its March 28 meeting at 10:30 a.m. in Room 1E of the Legislative Office Building in Hartford.

###

For Immediate Release: March 24, 2014

Facebook: Office of Governor Dannel P. Malloy