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HomeMy WebLinkAbout1999-03-09 Board of Selectmen Executive Session Minutes - Board of Selectmen Meeting Executive Session March 9, 1999 The Executive Session convened at 7:05 p.m. in the Conference Room, 16 Lowell Street, Reading, Massachusetts. Present were Chairman Bruce MacDonald, Vice Chairman Sally Hoyt, Secretary Matthew Nestor, Selectmen Camille Anthony and George Hines, Town Manager Peter Hechenbleikner, Assistant Town Manager Russell Dean, Town Counsel H Theodore Cohen, Lisa Smith and Jack Kerrigan from Grubb and Elllis, Reading Business Park Advisory Committee Member Don Stroeble, CPDC Member Mike Flammia and Paula Schena. Discussion/Action Items Sale of Real Estate - The Town Manager noted that the Town has three priorities regarding the landfill: 1. Close the landfill at someone else's expense. 2. Have something built on it. 3. Get money upfront. Corporex is committed to close the landfill. The Town will receive up front payments of$1.5 million payable in amounts of $500,000 per building permits being issued. There will be a $50,000 penalty after 12 months until all the buildings are built. --- The Town will have approval of who the buildings are sold to. Corporex will have controlling interest in all three entities. The Town will agree to have an insurance policy for personal injury and property should something arise from the current condition of the property. Corporex will take out a $5 million environmental policy. Camille Anthony asked if the lease is sold, would the bond still be in place. Town Counsel noted that it is. The Town Manager noted that if there is no performance after 20 years or so, then the Town has recourse to take the property. Town Counsel noted that if the Town sells the property, then it could only go after unpaid taxes and the Town has no say as to what goes on the property. Town Counsel noted regarding indemnification that if the Town is negligent, then the Town is responsible. The Town Manager noted that once the Letter of Intent is signed, then Corporex will pay the Town$50,000. Once the lease is signed, that $50,000 is nonrefundable. Board of Selectmen Meetiniz—Executive Session—March 9, 1999—Palze 2 Sally Hoyt had concerns about the type of fill that will be used, and noted that it will have to be approved. CPDC Member Mike Flammia noted that was a good point especially regarding indemnification. Don Stroeble noted that a plastic liner will be put down and the fill will go on top of the plastic. George Hines noted that Corporex is responsible for capping, and will want certification as to the quality of the fill. The Town Manager noted that Corporex will consider use for cell towers but it was very unlikely since there are already cell towers across the street. Town Counsel noted that there has been discussion as to the effective date of lease and when Corporex can pull out. A time schedule will be developed for permits. The Town Manager noted that if Corporex sells the buildings, then the Town's lease with Corporex would be transferred. Town.Counsel noted that there was an issue of how three separate entities would monitor. Don Stroeble noted that it would be part of common area maintenance. Each firm would have to contribute for monitoring, plowing, etc. Corporex would have to notify the Town and the DEP of who would be responsible. George Hines requested that the Board direct the Town Manager to have a cutoff date as far as the Town's use of the landfill. Mike Flammia noted that the Town should limit their use of the landfill. The Board agreed to move forward with the Letter of Intent. On motion by Hoyt seconded by Hines, the Board voted to adjourn the Executive Session -- Meeting of March 9, 1999 at 8:25 p.m. On a roll call vote, all five members voted in the affirmative. Resp 96411y submitted, S ret iy,