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Allen Edmonds Store to Reopen Next Week

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Allen Edmonds, the men’s shoe and accessories store at 69 Main St. will reopen on Wednesday just in time for holiday shopping, store manager Abby Beck said today. The store, which opened in August, has been closed since it was damaged by Storm Sandy on Oct. 29. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

RR Station Tenant Offers Bring Dozen Responses

By James Lomuscio

More than a dozen bidders have responded in the first 24 hours since the town posted two RFPs (requests for proposals) on its website Wednesday soliciting bids from prospective tenants for the newly refurbished eastbound Saugatuck train station house as well as the one at Greens Farms, Westport Deputy Police Chief Foti Koskinas said today.

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Westport Deputy Police Chief Foti Koskinas (l) looks over the newly refurbished eastbound station house at the Metro-North Westport station. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

“And even before we posted them, we had five or six people calling,” said Koskinas, whose department oversees Railroad Parking which manages the stations owned by the state.

One RFP with a minimum bid of $1,400 a month seeks a coffee concession to operate from 5:30 a.m. to 8 p.m. out of 1,600 square feet of the Saugatuck station house. That same RFP requires the tenant to also operate from 5:30 a.m. to 10 a.m. at Greens Farms, with the minimum bid at $500 a month, according to Richard Kotchko, the town’s purchasing officer.

The second RFP with a $1,400 a month minimum bid is for a approximately 275 square feet of office space at the eastbound Saugatuck station house. That space, adjacent to where the coffee concession would go, was previously occupied by Westport Taxi.

Moja Getting Set for Saturday Opening

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A new restaurant, Moja, featuring Asian and South American cuisine, opens Saturday at 12 Wilton Road near Save the Children. (See WestportNow Aug. 8, 2012.) Rick Demers, executive chef, said that cuisine specialties include Arepas—grilled corn cakes, and Kones—a version of temaki sushi. Linell said the 1,200 square feet restaurant has a full service bar in addition to indoor seating for 50. The restaurant’s general manager, Marc Katzenberg was prior owner of the Katzenberg Kafe, 22 Main St., which he operated for five years until 2007 when he sold it. Pictured are Demers (l) and sous chef Ray Stone. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Village Square Sells for $14.1 Million

The Main Street three-building commercial property known as Village Square has changed hands in a $14.1 million deal -– the second major Westport commercial property sale in a month.

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Village Square was bought by former owner of 125 Main St. Contributed photo

The 14,850-square foot retail property, home to TD Bank, House of Clement, Charter Realty, and Westport Physical Therapy at 181 Main St., has been sold to Acadia Reality Limited Partnership for $14,138,000, said an announcement from the broker representing Village Square, John D. Hastings.

Last month, it was announced that the property housing Balducci’s, Anthropologie, and French antiques store ParcMonceau at 1365-1391 Post Road East sold for $18.25 million.

Village Square was developed in 1996 by The Marsilio Group. LLC.  Ronald S. Marsilio has been managing member since its inception, according to the announcement. It said in 2005 the Fraioli Family Partnership purchased an interest in Village Square of Westport Development, LLC.

Gupta Can Remain Free on $10 Million Bond

Westporter Rajat Gupta can remain free on $10 million bond while he fights his insider-trading conviction, a federal appeals court has ruled. WestportNow.com Image
Rajat Gupta: Full appeal months off. File photo

U.S. Circuit Judge Jose Cabranes issued the ruling at the conclusion of Tuesday’s hearing in the U.S. Court of Appeals in New York.

Gupta, 64, who was in court accompanied by his wife, Anita, and their four daughters, challenged a ruling by U.S. District Judge Jed Rakoff in Manhattan that he surrender to prison on Jan. 8 and begin serving his two-year sentence.

After Cabranes announced his decision, Gupta’s wife burst into tears and his daughters patted their father on the back.

The ruling was a rare and swift ruling by the appeals court granting a criminal defendant’s request to remain free while they challenged the conviction, according to legal experts.

Comings & Goings: Galerie ISL Paris to Post Rd West

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Galerie ISL Paris, specializing in the sale and purchase of European collectible antiques dating from the 16th Century to the mid 20th Century, has opened at 5 Post Road West at Riverside Corners.  Parisian owners Johannes and Caroline Bahadourian, residents of Fairfield for the past year, are established international antiques dealers. He said he and his wife chose Westport for their U.S. business “because people know Westport—it is everyone’s destination for its beauty and commercial appeal, and it is close to New York City where I participate in antique auctions.” (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

State Needs Emergency Financing to Pay Bills Promptly

By Keith M. Phaneuf

www.ctmirror.org

State government may to need secure $550 million in emergency financing to ensure it can pay its bills promptly this winter, according to a plan prepared by state Treasurer Denise L. Nappier and approved Monday by Gov. Dannel P. Malloy.

That proposal wraps a calendar year during which the treasurer frequently had to temporarily transfer funds from various capital programs to keep government’s operating accounts running smoothly.

This marks the second time in three years the state has needed short-term financing to help cover its operating expenses.

“For several months I have reported reduced cash levels for the state, particularly within the common cash pool that funds daily operations,” Nappier wrote Monday in her letter to the governor, adding she recently had to transfer another $362 million from capital programs after operating accounts slipped into the red. “Circumstances now warrant a contingency plan for ensuring adequate cash resources.”

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Comings & Goings: SOMA Boutique Relocates to PRW

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SOMA Boutique, a high end women’s clothing and accessory shop, previously located at 22 Railroad Place for more than two years, will celebrate its relocation to 420 Post Road West with a grand opening celebration on Thursday from 6 p.m. to 10 p.m. “I’ve made a concerted effort to highlight designers that you don’t currently see in Westport,” said Westport resident and SOMA owne Maria Casabianca. “Ones that you might have to go into the city to find.” Casabianca, a graduate of New York’s Fashion Institute of Technology, said she has spent her entire career in the fashion industry.

Comptroller Raises Deficit Estimate by $50 Million

By Keith M. Phaneuf and Mark Pazniokas

www.ctmirror.org

After taking its first steps last week out of a growing fiscal pit, state government slid backward today as state Comptroller Kevin P. Lembo identified another $50 million in red ink in the current budget that he largely attributed to the rate of Medicaid spending.

“Medicaid—the largest single gross appropriation line-item in the budget—is significantly above the budget target,” Lembo said.

The comptroller officially certified a $415 million deficit, though he acknowledged that the actual shortfall is probably closer to $290 million. Because of a technicality in state budgeting rules, Lembo’s office could not count the emergency budget cuts ordered last Wednesday by Gov. Dannel P. Malloy in its latest report. Those savings will be reflected in future assessments.

As expected, Lembo’s report also officially triggers the statutory requirement that Malloy submit a deficit-mitigation plan to the General Assembly—a development the administration conceded several weeks ago was unavoidable.

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