Council votes to give 3 more years to redevelopment effort
LEWISTON, Maine (AP) — The Lewiston City Council has approved an agreement that will give a local redevelopment effort at least three more years for completion.
The agreement gives developer Tom Platz exclusive rights to purchase a 350,000-sq. foot building owned by the city for $1, but leaves the door open for another developer to take over the project in the third year if the city receives a “bona fide” proposal.
The Sun-Journal reports that Platz has redeveloped the rest of the Bates Mill complex, but Mill No. 5 has proven difficult as the largest building in the complex. The developer says he has already invested $700,000 into the redevelopment project and plans to develop the mill building by dividing it into two projects.
The council voted 6-1, with Councilor Michael Marcotte opposed.
Information from: Sun-Journal, http://www.sunjournal.com