Wednesday, March 31, 2010
Westport’s Old Town Hall at 90 Post Road East, most recently a branch of TD Bank, has been sold to a Westport developer for $2.325 million. Built in 1908, the building served as Westport’s municipal center until the current Town Hall opened in 1983 in the former Bedford Elementary School at 110 Myrtle Ave. The sale by TD Bank, N.A., was to Old Westport Town Hall, LLC. A check of the Secretary of the State’s database showed the principal is Westport developer Robert Haroun, who has built numerous homes in the community. (CLICK TO ENLARGE) WestportNow file photo by Dave Matlow
Posted 03/31/10 at 09:20 PM Permalink
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Please tell me that this building isn’t going to be featured in a future “Tear-down” photo!
This developer has built many new homes in Westport, on the sites of many old homes. I don’t want to be pessimistic, but… I plan to lots of photos while it’s still there.
Givin the fact that this property was on the open market for over a year this was likely a true “arms length transaction” A little insight as to next years grand list is that this property was valued at over six million dollars on the 2005 grand list. Two things are real here. A significantly lower Grand List and higher tax rates. Of course it always comes back to our town budget and how it is addressed.
Mike points are good, but allow me to take it further. Because the commercial values will be down, the residential burden will be higher. We are looking at higher taxes before we look at the budget impact.