1982-03-BOS-min - Laserfiche WebLink

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4 i r.. - _ Mr. Fukery explained that the Committee felt that there would be a consid- erable investment on the part of any business or person taking over the building for major improvements that are expected as the building is old. They felt that the Town would be relieved of this responsibility in that respect, Ms. Brander explained that they will probably be putting $200,000 into the building in the next year or so. The Board discussed the issues of provisos about the resale, mainten- ance and finacial arrangements which will be worked out by the Manager, Committee and legal counsel. Upon motion duly made and seconded, it was voted to designate the use of the Adams Schoo1 as a school and the party of interest as the Waldorf School. Muzzey School The Muzzey School Conversion Committee net with the Board to present its recommendations on the reconversion of the school. Mr. George Harris, Acting Chairman of the Committee, addressed the Board and synopsized the Committee's action from its first meeting in September of 1981 to the presentations to the Board last week. He stated that proposals ranged from luxury condominiums to supportive housing, office space, health club, and family housing. Senior Center components were introduced by various developers. He stated that, based on a vote of 5-3. the Committee was recommending Codman Company and Elgin Associates each having a Senior Center component. The Cod man proposal recommended 62 medium income luxury condominiums geared to attract "empty nesters" and young couples. The price range would be from $60,000 to $150,000 with an average of $100,000 per unit. Purchase price of the building would be $405,000 minus the price of cost of the. Senior Center or $405,000 without the Center and $605,000 with- out Senior Center but with cluster housing as in uss ll Square. Provision for 80 paring spaces is contemplated. The tax revenue to the Town would be approximately $120,000 per year with an additional $20,000 if cluster housing is They are interested in the purchase of the building and the land. Mr. Farris stated that the Elgin proposal was commercially oriented with approximately 60,000 sq . ft. of office space which they would life to limit the occupancy to between three and six occupants. The purchase price would be 0,000 with the Senior Center and $980,000 without it. In negotiations with them, it appears that their es- timate for the Senior Center was higher than they thought so the price would go up as time goes on. They would rent the Senior Center back to the Town for $1.00 per year for to gears further rental negotiations would be entertained at that time. They would expect to have 250 -300 occupants and would provide approximately Zoo parking spaces. They would work with the torn and occupants toward staggered office hours to reduce traffic concerns. Tax revenue would be $127,000 per year without Senior Center and $110,000 with it. Mr. Farris stated that the Committee members had some reservations about traffic and paring considerations, but did favor the commercial use of the building. He stated that, if the Board wanted to go with Nmd a"