In the very near future the mayor and town council will be forced to answer residents’ question: “How much longer will you allow the Park Place development to be kicked down the road?”
The Development Agreement for Phases II and III of Park Place first expired more than three years ago. Since that time the council has granted two extensions and appears poised to grant a third. If that happens, those voting in favor should be prepared to transparently and fully explain “why?”
Seven months ago, during the State of the Town address, Mayor Friedel shared the “exciting news” that the developer had received a construction loan term sheet. Friedel’s “news” was based on a statement, provided by the developer’s spokesperson, that it was “anticipated” that the loan would close in March and construction would begin in April. Well, that didn’t happen.
