Town Working With CIL To Secure Financing For Depot Crossing

When the Town Council selected CIL Development to buy and develop the property on Farmington Ave. near the train station known as Depot Crossing it was just a first step in helping make that blighted property one the town could be proud of.

CIL has already refurbished and made a blighted property at Sherwood Tool into The Lofts at Sherwood Falls on Main Street. 

"We picked CIL and now we are working to finalize a development agreement," Berlin Economic Development Director Jim Mahoney said. "We are working with the state to see what grants may be available and we are reaching out to tenants to see if we can line them up before they start working on the building."

The town has a purchase and sale agreement for the property at 848 Farmington Avenue (Depot Crossing). The Council appointed a committee to conduct an RFQ and recommend a preferred developer for the site.

The committee consisted of Denise, Jim Mahoney, Helly Riggins, Dave Cyr (Chair of EDC) and Ed Egazarian (Vice Chair of EDC).

There were two responses to the RFQ - NMD Realty, LLC and CIL Development Inc. The committee made a unanimous recommendation that the Council select CIL. The Council accepted the recommendation and authorized the Town Manager to enter into a Developer Agreement designating CIL Development Incorporated as the preferred developer to purchase and complete 848 Farmington Avenue, subject to review and approval of the Developer Agreement by Corporation Counsel.  

"We want to have all the financing in place before we hand the property over," Mahoney added. "CIL has an excellent reputation with the state and is very familiar with the state grant process. They have completed a number of projects this size and larger and the town has had an excellent experience with CIL during their transformation of the Sherwood Tool Factory - now called The Lofts at Sherwood Falls."