(PRESTON, CT) – The Town of Preston announced town residents have approved the Property Disposition and Development Agreement (PDDA) with the Mohegan Tribal Gaming Authority (MTGA) for the Preston Riverwalk site in a vote of 813 to 137.
"This is a monumental day for the Town of Preston. I want to thank Preston voters for their vision and support," said Preston First Selectman Robert Congdon. "This would not have been possible if it were not for the thousands of uncompensated hours the Redevelopment Agency members spent on this project. I also thank Governor Malloy for his leadership and commitment to the revitalization of Connecticut brownfields. I look forward to joining Mohegan Tribal Chairman Kevin Brown and Preston Redevelopment Agency Chairman Sean Nugent for the signing of this historic agreement."
"Thank you to the residents of Preston, First Selectman Congdon, and the Preston Redevelopment Agency for welcoming us to the Preston community, and for believing and trusting in us," said Kevin Brown "Red Eagle," Chairman of the Mohegan Tribe and MTGA Management Board. "We look forward to a long future together and to developing a project that will not only make Preston residents proud, but will strengthen the local economy and the state as a whole."
A Memorandum of Understanding was signed last May between the two and conceptual plans were unveiled by MTGA this past January. The project has the potential for $600 million in development of tax paying amenities.
The formal agreement was signed by Congdon, Brown and Nugent in front of approximately 60 attendees at a press conference on April 19 at the Preston Riverwalk Site, at which Governor Dannel Malloy attended.