The Western Maine Development CEO says the mill brings no revenue just sitting there.
By Jim Smedley
Staff Writer

NORWAY – It’s all right there in front of him.

Property in a good location ripe for development, money in the form of grants, and most importantly, support of townspeople and officials.

Now, Brett Doney, chief executive officer for Western Maine Development, just has to put it all together to change the former C.B. Cummings property from an old mill to what could be the centerpiece of the town.

The only thing working against him is time. And time is a difficult foe.

A community development block grant for $400,000 is available, but the application must be submitted by Jan. 16.

He submitted a conceptual site plan for selectmen’s approval at the Dec. 11 meeting. Five of the 13 buildings there may be razed – four for sure.

To qualify for the money, the property had to be declared blighted in the sense that there was not enough parking available to make the project economically feasible.

Selectmen did that.

At the Dec. 18 meeting they learned that according to engineer’s figures, $194,000 in matching funds were needed. They expected it would be the standard 20 percent or $80,000.

They went over the figures and eliminated some of the work from phase I to cut the match to about $130,000.

Despite not having the required matching funds, selectmen gave the OK for Western Maine Development to proceed with applying for the development grant. Selectmen knew that the money would not be needed before the next town meeting in June and they could raise the funding subject there.

Getting started was important to Doney.

“We have a chance to make something happen in 2004,” he said. “In the long term I know it will be a success, but we want it a success in 2004.”

Doney’s take is that the mill brings no revenue to the town just sitting there. He said at one time, the mill property was valued at about $2 million. After the mill closed, the property was assessed at $671,000.

The property was on the market for a year and the asking price was between $400,000 and $450,000.

There were no bids.

Western Maine Development bought the land for $100,000.

“As an empty mill the value is minimal,” Doney said. “Plus, it drags other property values down.”

His plans project use between commercial, residential and office. And a green gathering space, a commons for civic use, what Doney called critically important.

He said it will revitalize the downtown area by bringing more people to the hub. He predicts that downtown merchants will benefit.

He credits Town Manager David Holt for his unwavering support in strengthening the downtown area, saying the strength of a town really comes from its heart – the downtown area.

The project will cost the taxpayers money, but Doney said the benefit will come in the form of increased property values and revenues from a developed Cummings area.

Phase I calls for the cleanup and site improvements: parking, curbing, storm water drainage, electrical, telecommunications and possibly asbestos removal.

Doney said the site has to be enticing to developers.

“Developers can put their money in any venture around the world and often from their living room,” Doney said. “We want them to invest in this project.

“Our goal is to get the buildings into the hands of the private sector as soon as possible,” he said.

The emphasis of phase I will be to make the office, cinder block mill and machine shop ready for developers. Those buildings are on the northeast section of the 5-acre plot, bordered by Bridge Street and the Pennesseewassee Stream.

Doney said four developers have expressed interest in the properties.

“It’s great to have developers’ interest, but you still have to make the site attractive enough from their point of view,” Doney said. “They still have to convince their banks, investors or funding sources.”

Doney said the $130,000 the town may have to raise will leverage $400,000 in federal money that in turn will bring in up to $1.3 million in private investment.

“We have momentum and we have developers’ interest,” Doney said. “If we can get things going in 2004, it will create a momentum that will carry through the rest of the site.

“The quicker we get it into private hands, the quicker it gets on the tax rolls,” he said.

jsmedley@sunjournal.com

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