Haddam Land Exchange
Documents of General Interest
DEEP is providing the following information and documents in response to numerous public inquiries for information pertaining to the Haddam Land Exchange.
Section 8 of Special Act No. 11-16 (Special Act) required DEEP to enter into an agreement with Riverhouse Properties, LLC to exchange the property owned by Eagle Landing, LLC located at High Street and Walkley Hill Road in Haddam for the property owned by DEEP located at Bridge Street (a/k/a Route 82) in Haddam, along with any other consideration necessary to ensure an exchange of approximately equal value. Pursuant to the Special Act, the valuation of any land to be exchanged shall be determined by the average of the appraisals of two independent appraisers selected by the Commissioner.
DEEP contracted with R.P. McDermott Associates, Inc. and Miner and Silverstein, LLP to conduct appraisals of each of the subject parcels in conformance with the Uniform Standards for Federal Land Acquisitions and the Uniform Standards of Professional Appraisal Practices. On December 19, 2011, DEEP received the last of the four appraisals.
The appraisers determined the market value of the DEEP Bridge Street property to be $1,725,000 (Miner & Silverstein) and $1,780,000 (McDermott), and the market value of the High Street and Walkley Hill Road property to be $410,000 (Miner & Silverstein) and $490,000 (McDermott).
On April 3, 2012, Riverhouse Properties, LLC advised DEEP that it will not be pursuing the transaction provided for in Section 8 of Special Act No. 11-16.
DEEP Property – Bridge Road
Eagle Landing, LLC Property – High Street and Walkley Hill Road