Hope Mill Village Associates (HMVA) 2006

(HMVA) purchased the Hope Mill in 2006+/-. In 2006, HMVA received a Conditional Special Use Permit and Dimensional Variances from the Scituate Zoning Board (ZB) and a Conditional Master Plan Approval from the Scituate Plan Commission (PC). HMVA planned to convert all eleven of the Hope Mill buildings into 207 Class “A” apartments and condominiums. 32 of the units were to be new construction. The new construction was to consist of ten two story period wood buildings. HMVA planned to build a belfry atop the main building of the Hope Mill. HMVA also agreed to build a sewer line from the Hope Mill to to the West Warwick waste management plant and donate the sewer line to the Town. HMVA agreed to connect the Hope Police and Fire Stations, the Hope School, the Hope Septic Association to the sewer line and to offer lateral connections to houses along North Rd. HMVA also promised to donate 32 acres of land in Hope and Coventry to the Town, build a trail along the Pawtuxet River, build a gazebo in the Hope Village Green and a stone staircase connecting the Hope Village Green to the Pawtuxet River Trail. They also promised to build a local history museum.

In 2008, HMVA went first into receivership and then bankruptcy without beginning construction. Vincent Coccoli was a principal of HMVA.
Some time, after 2010, Vincent Coccoli signed a Purchase and Sales Agreement with Furness to repurchase the Hope Mill. The P&S Agreement never closed and fell through in 2015

New England Development (NED) 2010

In January of 2010, New England Development (NED) purchased the Hope Mill from the bankruptcy trustee of Hope Mill Village Associates.

In August of 2010, the owner of the Hope Mill, NED went into receivership. The Superior Court appoint Peter Furnes receiver of ​NDG. Peter Furness of a partner of the three member the law firm Richardson, Harrington & Furness. Furness has been trying to sell the Hope Mill since 2010.

From the beginning, Furness left the Hope Mill unsecured. Vandals frequently broke into the mill buildings and stripped the buildings of everything of value. The roofs leaked. In December of 2010, the Town loaned Furness twenty thousand dollars to secure the buildings and purchase insurance on the Hope Mill property. From 2010 to 2016, this sum loaned by the town to Furnes increased to $55,000. Furness never paid any property taxes on the Hope Mill and the town allowed the unpaid taxes to accrue.


Paramount Development Group (PDG) 2016

In January of 2016, Paramount Development Group (PDG) and BMP LLC signed a Purchase and Sale Agreement with Peter Furness to purchase nine of the eleven Hope Mill buildings for $650,000.

The two mill buildings owned by Nick Izzi are not part of the P&S agreement and not part of the Hope Mill project. Land to the west of Route 116 (which includes the Hope Dam) will be purchased by PDG but will not be part of the Hope Mill project. Richard Derosas is President of PDG. PDG is a one-man operation operated out of a small house in Chelmsford, MA in which Richard Derosas and his family live. Derosas’s principal business appears to be Excel Painting, a commercial house/building painting business.

In January of 2016, the sale of the Hope Mill to PDG was approved by the Providence County Superior Court Judge Michael A. Silverstein. Silverstein has been overseeing the NED bankruptcy since 2010

At the time of the sale, the sale was expected to close in four months.  As of Sept. 22, 2017, the sale has not closed.

On Jan. 14, 2016, PDG appeared before the Town Council and gave a cursory presentation of their plans for the Hope Mill (which did not include a sewer line, land dedication, gazebo or stone staircase) and then presented a “tax stabilization” agreement that they had negotiated by the Town Attorney David D’Agostino. The tax agreement forgave approximately $500,000 in back taxes and the $55,000 that the Town had loaned the receiver to secure the mill buildings and to pay for insurance. It took the Town Council thirty seconds to approve the tax agreement. Current town council members Brenda Frederickson and David D’Agostino (father of David D’Agostino town attorney) voted for the Tax Agreement. The only dissenter was John Winfield who felt that the receiver was ripping off the town.

PDG’s attorney is Joe Shekarchi.  Shekarchi is a state Rep. for Warwick, Majority Leader in the state House of Representatives.
On January 19, 2016.  PDG appeared with Shekarchi and their architect before the Planning Commission. They explained in broad outline their plans for the Hope Mill.  They gave a presentation and were immediately granted Master Plan approval by the PC. The chairman of the PC is Jeffrey Hanson.  Prior to granting Master Plan Approval, the PC asked no questions of PDG and imposed no conditions (beyond seeking DEM approval for the septic system).
On Oct. 18, 2016, PDG appeared before the PC and received Preliminary Plan Approval. Again the PC asked no questions prior to granting approval and imposed no conditions (beyond getting state approval for the septic system).
In August of 2017, PDG applied to the ZB for a Special Use Permit and Several large Dimensional Variances.