SURROUNDED BY PROBLEMS

THE MOHEGAN SUN IS SURROUNDED BY ECONOMIC PROBLEMS.

DIRECTLY ACROSS THE THAMES RIVER FROM THE MOHEGAN SUN IS THE FORMER NORWICH HOSPITAL PROPERTY. THE TOWN OF PRESTON I BELIEVE HAVE UNTIL THIS COMING JANUARY TO FIND SOMEONE TO DEVELOP IT. FOR TWO YEARS PRESTON NEGOTIATED WITH UTOPIA STUDIOS TO DEVELOP THE LAND. THE DEAL FELL THROUGH. THEN CAME NORTHLAND, WHO WAS GOING TO BUILD 2 HOTELS, A MARINA, GOLF COURSE, HIGH END HOUSING, AND OTHER THINGS. THE DEAL FELL APART WHEN NORTHLAND'S FINAL PROPOSAL WAS FOR THE FIRST PHASE OF 750 APARTMENTS. THE STATE HAS SAID THEY WILL NOT GIVE PRESTON AN EXTENSION. SO WHAT HAPPENS TO THE NORWICH HOSPITAL PROPERTY?

SOUTH OF THE CASINO, IS THE TARRAGON PROPERTIES. IT IS REPORTED TO BE ABOUT 1,500 PLUS ACRES. THEY HAD NORTHLAND COME INTO THE DEAL TO PUT NEEDED FUNDS INTO THE PROJECT. NORTHLAND AND TARRAGON ARE NOW SUING EACH OTHER OVER THE PROJECT. HOW IS THIS SITUATION GOING TO END UP?

THE RESIDENTS OF THE TOWN OF MONTVILLE JUST VOTED TO DO A BOND ISSUE TO THE TUNE OF TWELVE MILLION DOLLARS ($12,000,000.00). THIS WILL RAISE THE TAXES FOR THE HOMEOWNERS. THIS COULD CAUSE ECONOMIC HARM TO THE TOWN.
WITH BUSINESS OFF BECAUSE OF THE ECONOMY IN SOUTH EASTERN CONNECTICUT, HOW WILL THESE EVENTS EFFECT THE MOHEGAN SUN? MAYBE IT WOULD BE A GOOD TIME TO INVEST IN REAL ESTATE? MAYBE SOMEONE SHOULD TALK TO THE STATE OF CONNECTICUT? MAYBE SOMEONE SHOULD BUY THE MONTVILLE BONDS? WHAT DO YOU THINK?