LEWISTON — Developer George Schott would take over most of the land on the Island Point area and get it ready for future development, according to a proposal going to Lewiston councilors Tuesday night.
“Right now, the plan is to prepare that site for use and then go from there when the economy gets better,” Schott said Monday. “The issue today is that it needs a lot of work and TLC. The way it is now scares people away. We’d get it ready and looking good.”
The property runs from Main Street and of the City’s Veterans Memorial Park north to the Androscoggin River. It includes the old Cowan and Libbey mill sites and some property surrounding them.
If councilors approve, Schott’s Great Falls Property LLC would begin clearing the site from the river south over the next year. Plans call for removing old brick and debris left over from the demolished Cowan and Libbey mills, building a retaining wall and filling the 7 Mill St. parcel — site of a parking lot now — to make its elevation match Mill Street. Much of that parking lot is in a flood plain currently.
Councilors are scheduled to vote on a development agreement spelling out their plans at their regular meeting Tuesday. That meeting is scheduled to begin at 7 p.m. in Lewiston City Hall.
Schott took over the old Cowan Mill site at 3 Mill St. after it burned and was demolished in 2009.
According to the City Council packet, Lewiston would transfer ownership of the Libbey Mill site and the parking lot northeast of the Veterans Memorial Park to Schott. Those two properties, 6 and 7 Mill St., amount to about three acres.
Both the city and Schott would try to take over a small piece of property between the parking lot and the Cowan site, according to the agreement. That land is currently owned by Florida Power and Light, and Schott would try to purchase it at his own cost, according to the proposed agreement.
The city would sell the third of an acre site at 10 Mill St. to Schott if it takes that property over. That land belongs to Central Maine Power now and the city has plans to purchase it, if CMP builds a new substation on Middle Street.
Combined, the deal includes about four acres on Island Point, which overlooks the Androscoggin River and Great Falls.
Schott would agree to place a $103,746 promissory note on the property, payable to the city when he sells or leases the property. In exchange, the city would release a lien it placed on the Cowan Mill property to cover the cost of demolishing the building.
Schott would also pay property taxes, including outstanding taxes on the Cowan Mill land.
“It’s a very exciting project,” Schott said. “It’s a good thing for the city, and the city does not have to invest any money to get the site ready for development.”
View Combining Island Point parcels in a larger map
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