In a statement to The Hartford Courant,today, The Chairman of the Mattabassett Sewer District indicated that he sent a letter to the Federal Government requesting financial grants for a sum of Eighty Million dollars for the denitirfication project that is mandated by the state department of environmental protection in order to accept the Middletown waste water system into the District.
As a former member of the Board of Directors I recognize that in the event,state or federal funding is not available for this project, the district can still accept Middletown as a contractual member as authorized by its charter.
The District’s charter ALLOWS the Directors the authority to enter into agreements for the acceptance of waste waters from abutting areas. That was done years ago with certain areas of Middletown, The Hartford MDC for parts of Newington, and Farmington without obtaining or consulting the owner towns of the District, New Britain, Berlin, and Cromwell. Therefore, the board can accept the additional Middletown influx to its plant without consulting with or obtaining approvals from each owner.
Therefore, the Board of Directors can proceed by utilizing its authority granted by the State Legislature to issue bonds for the cost of this project in the event no state or federal grants are made available to the district.
A $80,000,000 project cost bonded for a period of twenty years at an assume rate of 4% would cost a total of $116,348,220 to be shared by the owners of the district and if in the event Middletown does not share in this cost formula New Britain’s share would come to an approximate 70% a sum of $81,443,754 or an annual cost of $6,786.979 for this bond financing in addition to its share of the ongoing operating cost.
I strongly urge that the legislative authorities of the three owner towns of the District to get involved before the Board of Directors of the Mattabassett District issue such a bond creating a tax liability to all the residents the District serves.
Sincerely,
Frank Smith
why should we be forced to pay for another town's crap???
ReplyDeletedon't we pay enough for our own, why should New Britain taxpayers pay for Middletown's crap?
Like everything else in New Britain, just pay, pay and keep paying.
ReplyDeleteA Disgusted New Britain Resident said:
ReplyDeleteChairman Dr. Candelori is a smaller version of Bernie Madoff when he was associated with the Colonial realty group that ruined many investors.
Now he is trying to control the $80 millions and it sounds like Tim S. appointed him.
What do the readers of Frank Smith Says think ?
The Common Council, controlled by 13 Democrats, appoint the members to Mattabassett. The Republicans have recommended people to serve and were continually shut out.
ReplyDeleteThe absolute power continues.
QUESTIONS:
ReplyDeleteIf Middletown is added into Mattabassett wouldn't New Britain's percentage of the cost go down?
Isn't the plant required by the State and Feds to denitrify
the processed "flow" into the Connecticut River?
Aren't the seven New Britain commissioners appointed by the city council?
2 Partners In Investment Plead Guilty
ReplyDeleteNEW YORK TIMES
Published: June 9, 1993
Late last year, William P. Candelori, a former state lawmaker and executive at Colonial, pleaded guilty to Federal tax evasion for failing to report hundreds of thousands of dollars in income.
The complaint, filed on March 9, 1995 against Sisti,
ReplyDeleteJonathan N. Googel, Benjamin J. Sisti, William Candelori, Peter
J. Curley, Kenneth A. Zak, and Edmund M. Autuori (collectively,
the "Defendants"), alleged violations of several antifraud and
securities registration provisions of the federal securities laws
in connection with a fraudulent unregistered public offering by
Colonial of 1200 limited partnership units in the Colonial
Constitution Limited Partnership ("CCLP") between September 1,
1989 and September 1990. During the offering period, CCLP
interests totaling more than $30 million were purchased by over
700 investors residing in 28 states and the District of Columbia.
William P. Candelori, a former state lawmaker and executive at Colonial, pleaded guilty to Federal tax evasion:
ReplyDeleteJust another good Democratic leader here in New Britain!!!
United States v. Lopreato, 83 F.3d 571 (2d Cir. 1996)...
ReplyDeleteThe thrust of the government's case against Lopreato was that Colonial partner William Candelori contacted Lopreato and proposed that the CLPF invest in the Colonial Metro Zero Coupon Mortgage Trust (Metro Zero), a debt security which Colonial was then offering. In response, Lopreato informed Jonathan Googel, through their mutual friend, Ronald Welch, that the CLPF would invest in Metro Zero, but that Lopreato would have to be paid, in cash delivered by Welch. An agreement was reached that Colonial would pay Lopreato five percent of each such CLPF investment.
Anonymous has left a new comment on your post “THE MATTABASSETT COSTLY VENTURE":
ReplyDeleteDoes the administration really want a former Colonial Realty partner to manage $80,000,000 of the taxpayers money even though it is backed by a bond issue, but it has to be paid back with taxpayer's money?
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Posted by Anonymous to Frank Smith Says NB at January 17, 2009 9:33 PM