HomeMy WebLinkAbout2007-05-29 Board of Selectmen Executive Minutes BOARD OF SELECTMEN EXECUTIVE MINUTES MAY 20, 2007
EXECUTIVE SESSION: The Executive Session convened at 7:15 P.M.
Note: James Xenakis and Ray Santilli were absent.
ATTENDANCE: The following were present: Thomas Licciardello, Chairman; Daniel P. Laren: Mark J.T.
Caggiano; Rosemary Connelly Smedile, Mark Rees, Town Manager;Thomas Urbelis, Town Counsel; Curt
Bellavance, Community Development Director; and George Koehler, Housing Partnership Chairman.
The Board of Selectmen was individually polled and each voted to move into Executive Session. Vote approved
4-0.
Land Acquisition
The Town Manager said the Board should make a recommendation for Town Meeting regarding Article 40:
Acquisition of 75 Park Street(the former Greenery Property).
Now that Town Meeting voted down the Article to appropriate CPA funds toward the acquisition of 75 Park Street,
the Board would have to make a decision about Article 40.
A meeting was setup at Town Counsel's Thomas Urbelis office on Friday, May 25, 2007 with current owner of the
property Real Estate Investment Trust, along with two attorneys, Curt Bellavance, Thomas Licciardello, Mark
Rees and Rosemary Smedile via conference call to discuss the options of acquiring the property.
NOAH still wants to move forward with buying the property and the property owners still want to sell the property.
The problem is there is a significant difference is how much money they want to spend on the transaction.
^ Current owner believes that the assessed value is at$2 million is actual value and NOAH is willing to pay around
$775,000. NOAH said if successful they would work closely with the town and the neighbors to make this a
successful program and hope to go back to a future town meeting and get CPA money.
There are two scenarios:
1. NOAH is successful with in a private negotiation with current owners and come to agreement on a dollar
amount comes back to the town and work together to make a von win for all.
2. NOAH does not buy the property and it goes out to auction and awarded to the highest bidder. If it goes
out to bid, the town would be in a better idea of the market value and the town would be able to take it by
eminent domain.
George Koehler said that NOAH won't go ahead with the building because they won't get the State money if they
don't get CPA dollars, but they can wait and willing to hold onto the property until the next town meeting. They
have financial sources to use to purchase and willing to take a risk and trusting the acquisition costs. But if at a
future Town Meeting fails to give the CPA money, then the development would be dead and would have to sell
the property.
The Board would need to make a position in public session whether to take No Action on Article 40 or include
Article 40 and put a dollar amount on it. The Board decided to take NO ACTION on Article 40 in Open Session.
ADJOURNMENT:
Mark Caggiano made a MOTION, seconded by Rosemary Smedile, to move out of Executive Session. Vote
approved 4-0.
Respectfully submitted,
Adele J. Johnson,Administrative Secretary