Date: Fri 16-Feb-1996
Date: Fri 16-Feb-1996
Publication: Bee
Author: ANDYG
Quick Words:
DPUC-Northeast-Utilities-land
Full Text:
DPUC Considers Sale Of Northeast Utilities Land
B Y A NDREW G OROSKO
The state Department of Public Utility Control (DPUC) held a public hearing
this week on the proposed sale of 11.1 acres of Connecticut Light and Power
Company (CL&P) land to two local women.
Joseph St Germain, a senior project manager for Northeast Utilities (NU), told
DPUC representatives at the hearing that CL&P has agreed to sell the land for
$270,000 to Mary Ann Murtha and Beverly Setz. At that price, the land would be
sold at a rate of $24,324 per acre. CL&P is an operating company of the
holding company known as Northeast Utilities.
In an appraisal of the land performed for CL&P one year ago,
Lesher-Glendinning, Inc, found the value of the residentially-zoned acreage to
be $210,000, according to the DPUC. That appraisal placed the value of the
property at $18,918 per acre.
Mr St Germain said the prospective owners of CL&P's 11.1 acres acquired
approximately 4 acres adjacent to 11.1 acres from a private party after CL&P
agreed to sell them the 11.1 acres.
Mr St Germain said the women bought the four acres to provide better access to
the 11.1 acre parcel. The 11.1 acre property is intended for the construction
of single-family homes, he said. Mr St Germain didn't specify how many houses
would be built on the land.
The CL&P appraisal indicated that the highest and best use of the 11.1 acres
would be the construction of a nine-lot residential subdivision.
The 11.1 unimprovced acres of surplus CL&P property is located on Route 302
near Rock Ridge Country Club. The street addresses of the land are 230-234
Sugar Street and and 2-6 Dodgingtown Road.
State law required public utility companies to first offer the surplus
property they want to sell to governments. Because no governments were
interested in buying the land, CL&P agreed to sell the land to the two women.
The DPUC monitors such land sales by public utilities to ensure that the
utility's rate payers are protected; to make sure that the land being sold
isn't needed for other public utility purposes; and to ensure that fair prices
are paid for the land.
The DPUC also oversees public utilities' accounting parcaticesin monitoring
independent land sales.
A DPUC decision on the proposed land sale has been scheduled for an April 24
DPUC meeting. An attorney representing CL&P requested that the decision be
expedited.
Richard G. Patterson served as the DPUC's hearing officer at the February 13
session.
