HomeMy WebLinkAbout1986-12-08 Board of Selectmen Executive Session Minutes Executive Session
December 8 , 1986
The Board of Selectmen convened in Executive Session at 11 : 10 P.M.
Present were Chairman Paul Landers , Vice Chairman Ziegler , Secretary
Eugene- Nigro , Board Members Russell and Graham and Town .Manager
Peter Ii Hechenbleikner .
The Boai•d discussed the Terms for Bids for the Community Center as
outlined:
(1) Minimum Bid price of $1 ,000 ,000 . :
(2) Good faith deposit of bid - $50 , 000 to be refunded to all
but lowest bidder following opening of bids
(3) Maximum of 40 housing units ;
Maximum of 60 bedrooms as follows :
efficiency - .75 bedrooms
4 bedroom - 4 .00 bedrooms
2 bedroom - 2 .00 bedrooms
3 bedroom --- 3 .0 bedrooms
(4) Developer subsidy of 4 units for senior citizens low/moderate
income . units for at least 6 years . At the time of sale , a
guarantee that the Reading Housing Authority or other agency
may buy,- the units at the maximum price set by the State by size
of housing units , at any time through the 6th year .
(5) Council on Aging able .to remain on the site for up to 36 months ,
paying only their share of utilities for that period .
(6) Proof of financial ability to undertake a project of this scope .
(7 ) Proof of experiences of the developer in undertaking and comple-
ting a project of this type and magnitude .
(8) Proven ability of the developer to undertake the project and
keep the general historical character and nature of the
building intact .
(9) Ability and willingness , to put up a performance bond to guar-
antee completion of the project within .a specified period of
the closing .
(10) Ability to close on the project within 30 days of Zoning Board
of :Appeals approval .
On motion by Ziegler and seconded by Nigro the Board of Selectmen
adjourned at 12 : 00 P .M.
Respectfully submitted :
Secretary