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CAPITAL EXPENDITURES COMMITTEE SUPPLEMENTAL REPORT TO STMs 2016 -2 & -4 <br />STM 2016 -4 <br />Article 5: PURCHASE OF <br />BELMONT COUNTRY <br />CLUB LAND <br />Fund <br />Authorization <br />Requested <br />Funding <br />Source <br />Committee Recommends <br />Not Applicable <br />Not Applicable <br />Indefinite Postponement <br />(4 -0) <br />"To see if the Town will vote to exercise the Town's right of first refusal pursuant to G.L. c. 61B to purchase <br />or otherwise acquire for municipal purposes a portion of the parcel of land shown as Lot 2A on Assessors' <br />Map 1 and owned by The Belmont Country Club, Inc.; appropriate a sum of money therefore and determine <br />whether the money shall be provided by the tax levy, by transfer from available funds, including Community <br />Preservation Act funds, by borrowing, or by any combination of these methods; or act in any other manner in <br />relation thereto." <br />"DESCRIPTION: The land referred to in this article is the subject of a purchase and sale agreement <br />between the Belmont Country Club as owner and the Montessori school as purchaser. Because this <br />parcel has received favorable property tax status, known as Chapter 61B, the Town has a right of first <br />refusal to purchase it for the same amount negotiated by the Montessori School." <br />[Town Warrant for 2016 -4] <br />At the time of the initial report on this Article, this Committee's recommendation was pending further <br />public information being available on this potential purchase. <br />At the Board of Selectmen's meeting on April 25, 2016, it voted unanimously in Open Session not to <br />exercise that right to purchase this parcel of land. <br />This Committee endorses the decision not to purchase the land. <br />Note: Our Chair recused herself from deliberations on this matter as she is a member of that Club. <br />4 <br />