When the New London Development Corporation got its Fort Trumbull Redevelopment Area approved in 2000, it boasted that the proposed development plans would line the city’s coffers with tax revenue. Over the years, the city spent a whopping $80 million acquiring and razing Susette Kelo’s home and the homes of her neighbors. Today, a decade after falling for the rosy promises of the NLDC, the city is the proud owner of 90 acres of barren land.
In addition to the money that was paid for the Fort Trumbull neighborhood, the city has received no tax revenues from the area for several years. And it looks like the taxpayers of New London shouldn’t expect to see any money start coming in anytime soon. Potential developers have asked for generous tax breaks to make their projects financially feasible. The project that was supposed to fill the city coffers with tax dollars has so far done nothing but suck them dry.
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