HomeMy WebLinkAbout1986-11-17 Board of Selectmen Executive Session Minutes EXECUTIVE SESSION
BOARD OF SELECTMEN MEETING
November 17, 1986
Meeting convened at 7:32 P.M. in the Selectmen's meeting room. Members present
were Chairman Paul Landers, Vice Chairman Mollie Ziegler, Secretary Eugene
Nigro, Selectmen John Russell and Russell Graham. Also present were Peter
Hechenbleikner, Town Manager, Bradley Latham, . Esq. , Jack Rivers, .Ms..,. River�s-
one other member of the Rivers Development team, and Ted Cohen, Esq. Town
Counsel. On motion by Eugene Nigro and second by John Russell the Board of
Selectmen voted to go into Executive Session and not to return to open meeting.
By roll call vote the motion was unanimously carried.
Mr. Rivers proposal for modification of the purchase .and sale agreement for the
Community Center as outlined in Brad Latham's letter of November 4, 1986 was
reviewed. Several members of the Board of Selectmen asked questions for points
of clarification. These included putting dollar amounts i_o the various items
in exhibit D. It was indicated that item four-documents stamps carried a cost
of $2500, item five-the infiltration and inflow program carried a price tag of
$6,000, and item six regarding the reduction in the time period for the low
and moderate income elderly units carried a $16,800 price tag.
Questions included the request for breakdown of the "soft costs" including
finance charges.
Approximately 8:00 P.M. the Board of Selectmen asked all other parties to
leave so they could discuss their options with legal counsel. These discussions
included:
1. What legal options the Board of Selectmen has with regard to
rebidding - It was indicated that the Board of Selectmen were
not required to bid anu could either negotitate with Rivers,
rebid, or consider rebidding among the four highest bidders in
the initial process.
After considerable additional discussion the Board decided that it would follow
two courses:
1. Test the waters among the other high bidders as to whether or not
they would be interested in the project and'at what approximate cost. {
The Board would reserve the option to hire a consultant to help
them evaluate the Rivers proposal.
2. Confirm with the Assessors the sales prices of similar condominiums
in Reading and the surrounding areas.
EXECUTIVE SESSION
BOARD OF SELECTMEN MEETING
November 17, 1986
Page 2
At 9:00 P.M. Mr. Rivers and party were brought back in and the Board of
Selectmen relayed to the developer their position and indicated that in a
little bit more than two weeks we would be able to discuss these issues
in more detail. Mr. Rivers agreed to cooperate with the consultant, should
one be hired in evaluating Mr. Rivers numbers. The Rivers party left, and
Town Counsel Cohen reviewed with the Board of Selectmen the Davis agreement
that has been signed. The Town indicated that title insurance was required.
On Motion by Zeigler, second by Nigro the Board of Selectmen ended their
Executive Session at 9:15 P.M.
On motion by Zeigler, second by Nigro The Board of Selectmen adjourned
at 9:15 P.M.
Respectfully submitted:
Secretary