2010-03-11-CPC-min.exe - Laserfiche WebLink

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2008, was $1,825,000 for 3.2 acres. The Busa parcel, she noted was 7.93 acres (14 lots) for $4.1 million. She said she felt the Cataldo property would be a hard sell at nearly a million dollars an acre. Ms. Fenollosa suggested asking the appraiser from 2008 to do an updated appraisal. A straw vote was taken at this point in the discussion on the acquisition as detailed by Mr. Cohen, passing 4-3, with two members absent. Members continued their discussion, and focused on the difference in the appraised value of the land over a two year period. It was asked whether the acquisition could go to a referendum, to which Ms. Krieger responded that it would be a highly undesirable alternative. Mr. Wolk summarized the values of the parcel reiterating the aspects of the acquisition that were beneficial to the Town, such as the Harwell land, valued at approximately $100,000 and the $200,000 gift for land management. In light of the concern over the $4.4 million dollar appraised value, the CPC voted to conduct a second appraisal on the Cataldo property. Ms. Rice will contact Ms. Mullins to arrange for a second appraisal with Mr. Valente’s approval. After a duly conducted roll call vote, the Executive Session was closed at 3:02 pm and the Committee returned to Open Session. Respectfully submitted, Nathalie Rice Administrative Assistant Community Preservation Committee 2