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Tuesday, April 22, 2014

Baron’s South Financials Still Unsettled With Developer

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Westport’s Baron’s South Committee, working on establishing a senior housing project on the town-owned land known as Baron’s South, was told today that progress has been made on a memorandum of understanding with developers Jonathan Rose Companies. But Selectman Avi Kaner (l, back to camera) said still unresolved are financial arrangements. He said the challenge is that it is a private/public partnership structure with a 98-year term. “It’s hard to see what can happen in the future,” he said. “For instance, say in 30 years from now the state of Connecticut changes a tax code from property tax to sales tax or something of that sort.” Meanwhile, he said, “We do not want to slow down the project.  We want to proceed simultaneously.” (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

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