The Midcoast Regional Redevelopment Authority (MRRA) last week paid the Navy $1.5 million as part of the revenue-sharing component of the economic development conveyance (EDC) for the former Naval Air Station Brunswick in Maine, the authority announced Tuesday.
The payment, generated from property sales and leases at what is now Brunswick Landing and Topsham Commerce Park, represents MRRA’s second payment to the federal government stemming from the EDC this year. It follows a $3 million check it sent the Navy in June to pay off a note 10 years before it was due.
The two payments are a testament to the speedy transfer of the property from the Navy and the subsequent rapid development at Brunswick Landing and Topsham Commerce Park.
“This latest payment, combined with our earlier payments clearly illustrate that MRRA is effectively managing its finances and exceeding its redevelopment goals,” said MRRA Executive Director Steve Levesque. “This has been a very good year for us in terms of property sales and leases, but we know we still have an awfully long way to go and we continue to face major challenges to realize our long-range vision for the former base.”
Separately, Stamford, Conn.-based RollEase — the largest independent engineered component manufacturer and distributor in the custom window covering industry — this week extended its existing one-year lease at Brunswick Landing by three years, with an option for six more. The company opened its Innovation Center at Brunswick Landing on April 28 with 12 engineers, according to a press release.