Stonington looking at upgrading floodgates to drive mill redevelopment - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
November 7, 2016 Newswires
Share
Share
Post
Email

Stonington looking at upgrading floodgates to drive mill redevelopment

Day, The (New London, CT)

Nov. 07--STONINGTON -- Town officials have been discussing whether the town should invest in upgrading the Mechanic Street floodgate system as a way to lower flood insurance rates and make the mills along the Pawcatuck River more attractive to redevelopment.

The gates, along with earthen berms and pumps, are designed to protect the mill buildings and some surrounding homes from flooding if the Pawcatuck River overflows its banks.

Last week, Board of Finance members discussed the possibility of upgrading the system so it could be accredited by the Federal Emergency Management Agency.

Board member Blunt White, who is also chairman of the town's Economic Development Commission, told finance board members that if this was done, the business in the mills would not have to pay for flood insurance.

He said this would help attract new mill tenants as the EDC tries to convince the Planning and Zoning Commission to expand the uses that are allowed in mills to possibly include retail use and space geared toward entrepreneurs.

The mill space, much of which is vacant, is only zoned for manufacturing use.

"If we got it accredited it would create more upside," he said.

Board member Glenn Frishman suggested the board look into the costs of accreditation, which members agreed to do.

Recently, the Board of Finance approved $27,000 in funding to hook the pump house up to electricity so it could cease renting generators.

Town Engineer Scott Deledda said that the first step in meeting FEMA accreditation standards is to conduct a detailed study of the various components of the system to see what improvements would need to be made. He estimated the cost of the study to be about $100,000. He said the system is inspected each year by the Army Corps of Engineers to ensure it is functioning properly. The FEMA accreditation process, however, would require the system to meet much higher standards. The town currently spends $35,000 a year to maintain the system.

At this point, Deledda said town officials have not approached him about including money for a study in the upcoming 2017-18 budget. He said the town will have to weigh the economic benefits of the accreditation process versus its cost.

[email protected]

___

(c)2016 The Day (New London, Conn.)

Visit The Day (New London, Conn.) at www.theday.com

Distributed by Tribune Content Agency, LLC.

Older

NFP Acquires Malpractice Insurance Agency

Newer

McKesson Specialty Health Hosts 2016 Onmark Fall Leadership Summit for Community-Based Oncology Practices

Advisor News

  • Demonstrating the value of life insurance to Gen Z
  • Poor money habits are a dealbreaker in a new relationship
  • DC plan sponsors see opportunity in alternatives
  • The American Dream: Redefined as financial stability
  • Partial annuitization: How advisors can help clients balance income, growth
More Advisor News

Annuity News

  • CA judge certifies class action in teachers’ lawsuit over in-plan annuity fees
  • Globe Life Inc. (NYSE: GL) Records 52-Week High Thursday Morning
  • AM Best Managing Director Joins ‘Target Topics’ Podcast to Discuss State of Delegated Underwriting Authority Enterprises Market
  • KBRA Assigns Rating to TruSpire Retirement Insurance Company
  • Partial annuitization: How advisors can help clients balance income, growth
More Annuity News

Health/Employee Benefits News

  • Arkansas Explained: What's happening to the state's Medicaid expansion?
  • CT Congressman Wants Legal Support For Patients Denied Health Coverage
  • Coalition targets health insurance costs, calls for relief
  • Map: Where Obamacare Enrollment Is Falling
  • Data on CDC and FDA Detailed by Researchers at University of New Hampshire (Long Covid Among Adults With Pre-existing Disabilities: Evidence From the 2022 National Health Interview Survey): CDC and FDA
More Health/Employee Benefits News

Life Insurance News

  • Globe Life Inc. (NYSE: GL) Records 52-Week High Thursday Morning
  • AM Best Upgrades Credit Ratings of Sagicor Financial Company Ltd. and Most of Its Subsidiaries
  • Trust, technology and the future of claims
  • New York Life Launches an Indemnity Benefit for its Asset Flex Long-Term Care Insurance Solution
  • AM Best Affirms Credit Ratings of DB Insurance Co., Ltd.
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Prosperity Life GroupSM Launches Prosperity PathWaySM Series, Bringing Greater Choice and Flexibility to Retirement Income Planning
  • Senior Market Sales® Fortifies Annuity Reach With Acquisition of Retirement Planning Firm Stratton & Company
  • RFP #T01625
  • Rockwood Programs Appoints Kerry Ladouceur as Vice President, Financial Lines
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet