1993-04-22 Board of Selectmen Executive Session Minutes

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Minutes of the Board of Selectmen Meeting Executive Session April 22, 1993 - The meeting was convened at 8:30 p.m. in the Conference Room, 16 Lowell Street, Reading, MA. Present were Chairman Dan Ensminger, Vice Chairman George Hines, Secretary Sally Hoyt, Selectmen Eugene Nigro and Bill Burditt, Bear Hill Evaluation Committee member Don Allen, Town Manager Peter I. Hechenbleikner. Later, Drew Dolben and Brad Latham joined the group. On motion by Hoyt seconded by Hines the Board voted to go into Executive Session for the purpose of discussing real estate nego- tiations not to come out into open session. All five members present voted in the affirmative and the motion was carried. Housing Authority issues including affordable housing for low and middle income residents were reviewed. Mssrs. Dolben and Latham entered the meeting. Mr. Latham presented a letter dated April 22, 1993 which addressed the issues raised in the Evaluation Committee's report of April 7, 1993. With regard to the number of units and the justification for the number of units, the proponent felt that these should be dealt with as part of the site plan process. With regard to the sell- ing price, the proponent submitted land sales comparables and other material which indicated that a price in the $7,500 to $11,000 per unit range was appropriate. This followed consult- ation with a number of professionals in the field. One of the comparables sited by the Evaluation Committee was Shrewsbury which was a MHFA project which was fully permitted. With regard to item 4, Mr. Latham indicated that he could not recommend to his client that it accept responsibility for 21E problems on the site. This issue may moot because of the Corp of Engineers' clean-up on the site. With regard to item 5, the proponent will be happy to enter into discussions with neighborhood groups. With regard to item 6, related to off-site improvements, the proponent doesn't feel that this can be left open ended. We should try to define what needs to be done. With regard to item 7, the proponent has indicated that the recreation area is adequate in size - it's approximately one half of a house lot. The plan, of course, is still in the conceptual stages. With regard to additional bonding, the proponent doesn't feel that this is necessary or appropriate. With regard to the financial capacity of the developer, the pur- chase price and closing of the property should be adequate to ad dress those issues.