1956-04-09 - Laserfiche WebLink

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particular tract for some time, was planning on giv- ing up farming and entering the house construction field and planned to build on the site houses selling between $16,000 and $17,000. It was pointed out to Mr. Busa that a playground on the proposed site would be for the benefit of the Town and its children and of particular benefit to the people residing in Mr. Busa's development. It was also stated that in its general approach to a problem such as this, the Board has tried to make offers which it felt would not hurt owners financially but that the Board would not recommend purchasing land for what it was thought the land might be worth if developed. Mr. Busa wanted to know what the Board thought the land was worth. He stated that it would cost him a little less than $20 a linear foot to build a road including sewer, water and drainage and that when this was done some lots would be worth $6,000 apiece. When asked by the Chairman if he paid $3,000 for the land, Mr. Busa said he was not selling, the Board was asking and he was figuring on a rofit. When asked if he was thinking in terms of 10,000, Mr. Busa said he was. When also asked if he would want the land assessed for that, he replied that if the land were built upon he would be able to obtain three times this value, that ' he could plant and cultivate the land and not be assessed $10,000 and that he did not have to build upon the land if he did not want to. It was pointed out to Mr. Busa that he and the Board were looking at the matter in different ways, that the Board was considering the fair market value of the land as it was now, that as a taxpayer Mr. Busa would not want the Board to look at the matter in any other way and that he was talking of future profits which to- day the land does not have. Mr. Busa was told that the Board thought a town meeting would not act favorably upon a Planning Board recommendation that the Town pay $10,000 for the land under consideration and that a pro- fessional real estate appraiser would not place such a value upon the land. Mr. Busa said that this was true but that he was not trying to sell the land to the Board and was not interested in selling it. The Chair- man concluded the discussion by saying that the Board would consider the matter further. Mr. Busa asked about the procedure in having a definitive plan approved and the length of time neces- sary for each step. This was explained to him and Mr. Moore as well as the difference between a bond and a conditional approval contract as performance guarantees. When it was understood that Mr. Busa only wanted at this