After $6M In Reported Losses, Town Retaining Pension Consultant

It was not lost on local officials that in a 20-year window, Newtown’s pension investments have met a benchmark goal set by local policies. It was the last five years that have prompted a call for hiring a pension consultant. After meeting with Finance Director Robert Tait and Pension Committee Chairman Thomas Murtha on May 18, the Board of Selectmen unanimously agreed to hire a consultant that Mr Tait said would focus on several key tasks, including analyzing the pension fund; its mix of investments; the town’s pension policy; and the current benchmark of performance tied to that policy. The finance director told The Newtown Bee following the meeting that one of the most important things a consultant would determine is whether that current investment performance benchmark is appropriate.

Borough Zoners Reviewing Pumphouse Proposed For Firehouse Site

The Borough Zoning Commission (BZC) is continuing its review of Aquarion Water Company’s proposal to build an above-ground water pumping station at 12 Church Hill Road, the address where the Newtown Hook & Ladder Volunteer Fire Company plans to construct a new firehouse. BZC members held a second public hearing on the pumphouse application on May 13. The volunteer fire company plans to construct an approximately 16,000-square-foot firehouse at the 3.16-acre site on the south side of Church Hill Road. Aquarion wants to construct an 1,100-square-foot pumphouse adjacent to the planned firehouse.

Selectmen Quiz Mental Health Hospital Developer On Security, Admissions

Selectmen peppered a principal developer of a planned new, state of the art mental health recovery hospital being eyed for Fairfield Hills, with questions about security, and the potential for patients’ comings and goings to interfere with recreational activities on the town-owned campus. On May 18, Richard Kresch, MD, CEO of the growing hospital syndicate, appeared before the Board of Selectmen to pitch an idea for opening Connecticut’s first US HealthVest behavioral health care venture in the area of Norwalk Hall.

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