- October 1, 2021
- Posted by: Stratford Team
- Category: Business
Norwich — With local funding secured, engineering and environmental studies are underway on land in Occum proposed for a second Norwich business park, and project advocates hope to have access roads designed and a partial master plan by next summer.
The Norwich Community Development Corp. has a purchase agreement for $3.55 million on the former farmland and woodlands located north and south of Interstate 395 near exit 18.
The Board of Public Utilities Commissioners voted unanimously Tuesday to fund $75,000 to extend the option to purchase through June 30, 2022.
A second and final option contained in the purchase agreement likely will be needed through Dec. 15, 2022 before NCDC must decide whether to purchase the property, NCDC President Kevin Brown said.
The extension approved Tuesday brings NPU’s total commitment to the early stages of what officials are calling Business Park North to $575,000 for earlier purchase options and studies. NPU will…