Excerpt from: Eastern CT Blog Buffet
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| November 19, 2006 | | 56.5 million dollars due by midnight Monday | Tomorrow is the day we should find out if Utopia's 1.6 billion dollar development project is for real. As part of its agreement with the Town of Preston, $56.5 million dollars from Utopia Studios is supposed to turn up in a Preston escrow account by midnight tomorrow. There are 27 other conditions but showing the money will come a very long way in convincing the skeptics among us. While I personally would like to see it happen, (it has to be a great thing for Eastern CT Real Estate), I'm not getting the warm fuzzies that it will. Unless.....there is someone behind all that money who will reveal themselves tomorrow. If it doesn't happen, Preston will have received a one million environmental study. Not a bad thing. In the meantime, both the Mohegan Sun and the Foxwoods Resort Casino are proposing their own expansions, each worth over $700 million dollars. The expansions expect to add almost 4000 jobs to the area. Both Mohegan Sun and Foxwoods have a good track record of building what they propose. Stay tuned. Tomorrow should prove interesting as we find out if the check is really in the mail... | | | |
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