Developer, T&G Reach Agreement On Cleanup
An affiliate of the Worcester Business Development Corp. (WBDC) and the Telegram & Gazette have reached agreement on environment cleanup costs for the downtown properties of the long-time daily newspaper.
Terms of the settlement were not released, according to a statement from New Garden Park, a nonprofit subsidiary of the WBDC. Last year, the subsidiary bought the T&G properties on Franklin Street as part of redevelopment efforts in the downtown area. Published reports on the WBDC's website indicate the organization paid $300,000 for the properties with the intent of using part of it for higher education and another for business. The T&G said its operations in the building will be moving to leased space on nearby Front Street in the coming weeks.
Earlier this month, the U.S. Environmental Protection Agency (EPA) gave New Garden Park a $200,000 grant toward an environmental assessment and cleanup of the site.
Craig L. Blais, president of the WBDC, said the agreement with the T&G "marks an important step in the redevelopment of these crucial downtown properties. Both parties agree that this settlement will provide necessary resources to renovate and redevelop these properties."
Bruce Gaultney, publisher of the T&G, said the work the WDBC anticipated it would have to do on the building was factored into the sale price "and we're pleased to be able to provide further funding for portions of the building's cleanup."
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