NAUGATUCK, Conn. -- The FBI is investigating statements referring to Sen. Barack Obama made by a Naugatuck man accused of posessing bomb-making materials.

James Gagnon, a 44-year-old former Army Reservist, was arrested at the Oak Terrace Housing Complex on Thursday night.

Police said they received a tip that 44-year-old James Gagnon may have been doing something dangerous inside his apartment at the Oak Terrace Housing Complex on Conrad Street.

The complex is home to mostly senior citizens and disabled residents.

Police cordoned off the area surrounding the area, and called a bomb squad unit to the scene.

After obtaining a search warrant, the State Police Bomb Squad said it found chemical compounds, other materials and a chemistry book.

One investigator told Eyewitness News that pages in the chemistry books were found dog-eared on topics related to making explosives.

"Located in the residence were items like magnesium and solid fuels. Nothing was assembled to the degree it was considered a bomb, it was definitely in the initial stages," said Lt. Bob Harrison of the Naugatuck Police Department.

Police said they also found drug paraphernalia and an assault-type weapon inside the home. Officers also said that during a search of Gagnon's home, so much military paraphernalia was found that police said it looked as though he was "ready for a revolution."

At Gagnon's Friday arraignment, the judge said the FBI is involved in the case after Gagnon made statements referring to Obama.

According to court documents, Gagnon told police that he wasn't going to allow Obama to become America's first black president.

Gagnon remains held on a $100,000 bond.