NEW LONDON, Conn. -- It has been a week since pharmaceutical giant Pfizer gave New London the word that it was leaving the Whaling City in a merger restructuring plan with Wyeth.

The city council will meet on Monday night in a hearing on the matter of Pfizer. Its prior to their regularly scheduled Monday meeting.

The council knows Pfizer gave them two years notice. They also are aware that 1,400 researchers will leave to go to Groton and Pfizer will still pay taxes on the $300 million facility.

What isn’t known is the long-term deal. That is what council members will learn at the meeting scheduled for Monday night.

Pfizer’s Fort Trumbell neighbor, Murray Renshaw said New London will make out alright in the end.

Renshaw said, “We’ve got three buildings that are going to be paying taxes no matter who owns it. The bottom line, we’re further ahead today than we were when they first pulled in here.”

During a pre-council meeting on Pfizer on Monday night in city hall, New London’s city council will hear Pfizer will owe about $400,000 in personal property tax on furniture and equipment in 2012.

City Council member Rob Pero said, “You can’t split up the grand list for personal property. If it’s in there as of Oct. 1, you get it the next year so the city will receive all of the money.”

As for the future of Pfizer’s building, city leaders said they will sit down with them on Friday as well as the state and see how they are marketing the waterfront property.

No decisions are expected to be made during the meeting on Monday night.