Selectman presents plan for new business

WINSTED — Selectman Michael Renzullo presented a plan to the Board of Selectmen last week to start his own nonprofit development company to purchase and market abandoned factory buildings in town.

Laurel City Revamp is the name of the nonprofit Renzullo has formed for the purpose of rehabilitating distressed and underused properties.

“In the past few weeks, as we’ve been talking about our economic development strategy, it’s become apparent that we really need to take care of these brownfield sites as a nonprofit organization,†the selectman said. “So in the spirit of getting something done right, I went out and formed a nonprofit.â€

Renzullo presented a half-hour long PowerPoint presentation to fellow board members, outlining the proposed strategy for Laurel City Revamp, which would include purchasing properties from the town such as the old Lambert Kay factory building for $1 and then aggressively marketing the property to potential buyers.

“The first thing we need to do is start with the properties on Main Street, such as Capital Products, Lambert Kay, J.C. Burwell, Barrett Boat and Winsted Furniture, just to name a few,†Renzullo said.

Laurel City Revamp would work to restore the properties, applying for grant money to pay for repairs, environmental cleanup and upgrades and using local contractors. The ultimate goal would be to sell or lease the properties, with proceeds used to fund future projects.

Renzullo asked selectmen for their support of the project, but did not immediately get the go-ahead. Mayor Candy Perez said the presentation was a lot to absorb in one evening and that she thought selectmen needed time to digest it.

Renzullo said he is eager to get projects moving in town and that the plan will be contingent upon cooperation from the Board of Selectmen. He said he would recuse himself from any decisions regarding Laurel City Revamp, but he urged selectmen to consider the proposal.

For more information about the project, visit laurelcityrevamp.org or call Renzullo at 860-459-2025.

Lindsey Burril contributed reporting to this story.