Clinton official awarded $70K property grant; Improvements to 2 buildings on High Street sites planned.

Byline: Karen Nugent

CLINTON - A local contractor and longtime town official has been awarded a subsidized loan to make improvements on his High Street business properties.

William F. Connolly Jr., doing business as 627 High St. Realty Trust, will receive a $70,000 Urban Development Action Grant loan for work on his business properties at 627 High St., and at 637R High St., currently an old barn. He runs a contracting business there.

The selectmen Wednesday night approved the loan, which will be taken from a pool of state and federal money the town manages and appropriates to small businesses.

The awarding of the loan was recommended by Donald A. Lowe, director of the Clinton Community and Economic Development Office. Mr. Lowe said the 10-year note has a fixed interest rate of 6 percent. He said the total project cost estimate is $140,000, with Mr. Connolly funding the other half. Monthly payments of $771.14, paid to the development office, have been agreed to.

The improvements at the property include roof repairs to both buildings, security fencing, electrical and air conditioning updates; installing a concrete floor, vinyl siding, and new doors in the barn; and repairs to a bridge on the property.

The buildings are on the north end of High Street, near the wastewater treatment plant. Mr. Lowe said while the project would not create jobs, it would enhance the public view of the property and screen some of the "less desirable" views from sight. Also, he said it would create temporary work for local subcontractors.

"The financials from the past two years for Mr. Connolly have been submitted and reviewed by both the town counsel and myself. I am very comfortable with supporting this loan application," Mr. Lowe said.

Mr. Connolly, currently the chairman of the town's Finance Committee, has served on the School Committee, including several years as chairman, and on the Charter Commission.

Last year, a $100,000 UDAG loan granted to the McNally-Watson Funeral Home for improvements was questioned by the selectmen as to its lack of job creation, but was eventually approved.

Mr. Lowe said it is preferable to grant loans to successful businesses, which are less likely to default.

"Mr. Connolly is a solid, longtime businessman in town," he said.