Ridgefield voters approved the $1.25 million sale of five acres to developer Steve Zemo at a special town meeting Monday night. A crowd of more than 100 filled the seats.
Steve Zemo’s plans for the five acres include three buildings, a hotel, a storage facility and a third building with office space and apartments. The land is part of the 45-acre Schlumberger purchase the town made almost two years ago.
According to documents filed with the development proposal, Zemo's proposal estimated the buildings would generate property taxes of about $230,000 a year.
Zemo's proposal was the only one received when the Board of Selectmen asked for development proposals for a portion of the former Schlumberger land. Ridgefield asked for a plan and a price, and Zemo was the lone bidder.
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