VIDEO: BLT Gets Boatyard Deal; Will Pay for New Shelter, Fireworks

In one of the most controversial and talked-about stories in Stamford over the past year, Mayor Michael Pavia announced Thursday the city and Harbor Point developer Building & Land Technology had reached an agreement over their boatyard plans.

The deal finalized and agreed upon by both parties spells out a number of city building or landscape improvements or special activities to be funded by the developer to the tune of no less than $5 million, according to Pavia.

"They wanted to lease enough property from the city to bring their planned boatyard area from 3.5 acres to five acres," Pavia said prior to a Thursday afternoon announcement. "Their existing space couldn't store enough boats through the winter."

Pavia said during the meeting Thursday that the 482-slip boatyard deal was the "lynchpin" piece to the puzzle to solidify the move of Bridgewater Associates to Stamford, which would create roughly 4.5 "outside jobs" for every one of the Bridgewater creates in Stamford, which is estimated to be approximately 2,200.

Bridgewater's 850,000-square foot headquarters moving to Stamford's South End would also bring with it $6.5 million in tax revenue, Pavia said.

"The relocation of Bridgewater Associates bring enormous economic benefit, tangible and intangible to our city," he said.

In an effort to lock up land held by the city for use in developing a proper-sized boatyard after BLT controversially destroyed the previous location without prior consent or approval from proper Stamford boards, the company will now provide a number of incentives for land behind the city's facilities compound on Magee Avenue.

Included in the deal and most significantly impacted is the Stamford Animal Shelter, which will received both an expanded footprint from land previously held by BLT directly behind the shelter and funding from the developer to build the new shelter. The company is expected to cover whatever the city's $500,000 contribution in the proposed 2013-14 budget does not with a $2 million contribution specifically for the shelter, according to Pavia, though the city's money also contributed to design plans for the building.

The shelter is in a cluttered, horrendous state of disrepair and due for an upgrade. Despite outward appearances, the organization is one of the hardest-working in the city and manages to keep an almost constantly-packed house designated as a no-kill shelter. The new design adds 4,023 square feet to the shelter's footprint, an equal swap for the amount of land acquired from the city at 205 Magee Ave.

"We had been looking for sometime to acquire land to build an expanded animal shelter," the mayor said. "Our current shelter is on a tight sliver of land and restricts our ability to build anything of substance. We'll design it, they'll build it with their money."

Additionally, BLT will be responsible for "several million dollars in improvements," around Stamford—including more than a million dollars in donations to parks & recreation improvements—as well as provide sponsorship for the City of Stamford's Fourth of July Fireworks for 2014 and 2015, Pavia said.

Previously, Stamford's annual fireworks show on the Fourth of July had been chopped from the budget in an effort to save money.

The Atlantic Street underpass would also receive an upgrade with plans to have the project completed by 2016, upgrades Pavia said has been in the talks for "about four decades." He said the current planned completion date bumps up the project's estimated completion time "by at least five years, probably more like ten."

"It's a major artery in and out of the South End, and is considered an emergency route," Pavia said.

In exchange, BLT will be awarded a licensing deal that will permit them use of city land on a multi-year basis, according to Pavia. They will not be permitted to alter the city owned land in any major way, Pavia said, stating they'd only be allowed to produce whatever docking or small structures that would be necessary for a boat storage operation.

"They could only develop necessities with the primary purpose of boat storage or other ancillary, boat-related uses," Pavia said. "Once we've inked that agreement, worth no less than $5 million in value for the city of Stamford, the bonds will be submitted for evaluation and, hopefully, approval."

City officials made clear during the conference Thursday that any additional board approval outside of the Zoning Board's furtherment of the application process was technically unnecessary, as boards outisde of the Zoning Board had no input over licensing agreements between the city and potential licensors beyond the mayor's office or the application process. However, Pavia said he wanted to seek out questions or comments from all aspect's of the city's government and open up the floor to all for questions, comments and concerns.

"Wha we're talking about here today is a negotiation for a license of city property," the mayor said during Thursday's announcement. "That is a major component to launch the application and review process. I'm putting forth what I believe to be a quite-favorable negotiation that benefits the city of Stamford and allow the boards to do their jobs."

Pavia said, despite some early mistakes the company seemed to make in regard to its handling of the boatyard, he's satisfied with how BLT came to the table to work out the deal with the city.

"I see this deal as fair remuneration for BLT to use city property," he said.