NEW LONDON, Conn. (AP) — A Westport-based developer has filed suit against the city of New London and the Renaissance City Development Association alleging breach of contract.
The Day reports (http://bit.ly/1SS30cB ) River Bank Construction LLC filed the lawsuit to attempt to recover more than $2 million the company claims it spent in developing plans, obtaining permits and approvals for their Village on the Green project in 2013.
The 104-unit residential development never materialized after the RCDA refused to turn over about 6.5 acres of land designated for the $20 million project following a dispute over financing.
River Bank owners Irwin and Robert Stillman claim they were prepared to self-finance, but the RCDA “added terms and conditions not contained in the Development Agreement.”
Attorneys representing the city and RCDA declined to comment on pending litigation.
Information from: The Day, http://www.theday.com
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