Westport-based developer sues New London over failed project

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.

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Information from: The Day, http://www.theday.com
Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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