Saturday, November 19, 2011

New CT law that affects land listings


Something just came to my attention regarding a land listing I have in Westport, CT:

 In 2007, my owner went to considerable time and expense to get approvals to build a single family home on an undeveloped piece of land in Westport.  Because it was on the Saugatuck River and Taylor Salt Marsh (owned by the Aspetuck Land Trust), we had to go through Conservation Commission in addition to the other Town offices.  Also because the land was on a State Road, we also had to get the curb cut and sewer approvals from the Connecticut Department of Transportation. As it turns out, we did not build a house, and asked the Town of Westport Planning & Zoning for extensions on the permits.

It has come to my attention that the in May of 2011, the CT State Senate approved Public Act 11-5 which extends the site plan approvals (which are the costly and time-consuming ones) for 9 years.

This means that while local zoning boards might require a new application if the current permits expire, the costly site plans are still good for 9 years.  That is good news for owners and builders alike,  who need more time because of the current economic situation in the real estate market.  As with everything, some restrictions apply, so if you think you are affected by this, check the actual wording of Public Act 11-5!

The link to Public Act 11-5 from the Connecticut State Senate is: http://www.cga.ct.gov/2011/act/pa/pdf/2011PA-00005-R00SB-00859-PA.pdf

This does not cover every permit we have received, but it does go a long way to provide relief!

By the way, if you want more details about this amazing property for sale, let me know.  It is very rare to have a waterfront property which is also walking distance to downtown.  There is a sidewalk that takes you from the property site right to Main Street in less than 1/2 mile!  Contact me at dsledge@prudentialct.com or cell 917-579-0631 for more information!