Redevelopment Projects

There are now three redevelopment projects going. 

Two of them have been given some form of tax abatement and one is being done by a private company.

It will be interesting to see how quickly a private company using private funds takes to complete their project, as compared to that of Bloomfield, whose projects are taxpayer subsidized and are a public private partnership.

So far, the Bloomfield Center project has taken over 10 years to break ground to the cost of $20 million in bonded debt, with not one building constructed to show for all that money.  The bonded debt is a gift from the current administration to our children, grandchildren and great-grandchildren, as they will be stuck having to pay for it.

The Bloomfield Center project will bring an additional 240 housing units.  The Oaks Pond development, with its 30 year tax abatement, will bring in 248 housing units and the Parkway Lofts 361 loft style apartments.

All this new housing while there are over 340 homes for sale in Bloomfield and rental availability of at least 94 apartments and 74 homes in foreclosure.

The two tax abated projects will greatly increase the demand on our already stretched services.  Not to mention what happens with the additional amount of kids attending our schools.  Since they live in properties that have been given a tax abatement, the only fair conclusion is that property taxes are going to go up even more to pay for more kids attending our schools.  The property owners won't be contributing, but Bloomfield residents will have to pay for these children to go to school.

Sounds fair to you, doesn't it?