The Town of Ridgefield Won't Have to Pay Back $385,000 Loan for Schlumberger

RIDGEFIELD, CT — The Town of Ridgefield won't have to pay back a $385,000 remediation loan on the Schlumberger property from the Connecticut Department of Economic and Community Development, according to The News Times. As part of the agreement, Ridgefield can not sell 18 acres of the property for 10 years, the paper reported.

The Schlumberger Committee analyzed the results of the September and January surveys and developed recommendations for the property which include municipal use, cultural use or land bank.

The Town of Ridgefield purchased the 45-acre property between Old Quarry Road and Sunset Lane in 2012 and currently oversee 30 acres after selling 15 acres to two separate developers. The property was bought by the Town for $7 million, approved by voters at a referendum in 2012.

The Schlumberger Citizens Committee is a nine-member committee appointed by the Board of Selectmen charged with determining the future of the former Schlumberger property.

According to the town's website, the Selectmen have given the committee "latitude" with the exception of considering a Maurice Sendak Museum on the site to honor the longtime Ridgefield resident Maurice Sendak, famed illustrator and children’s book author.

For more information visit visionfor30acres.

Related:

• Ridgefield Officials: What Should We Do with Schlumberger?
• Ridgefield Residents Encouraged to Take Schlumberger Tour
• Vision for 30 Acres: Final Workshop for Former Schlumberger
• TONIGHT: Live Theatre at Schlumberger
• Land Sale Referendum for Schlumberger Property

Photo by preda1or007 via Flickr Creative Commons