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2 <br /> Community Preservation Act Committee <br /> Minutes <br /> Thursday,April 25 2010 <br /> Present: Wayne Taylor, Richard Halpern,Edward Carman, <br /> Evelyn Buschenfeldt, Toni O'Hara, Frank Lord <br /> Absent:.. Diane Rommelmeyer, Ralph Shaw <br /> Attendees; Joyce Mason, Town Manager <br /> Attorney Robert Mills, Counsel representing the Mills Family <br /> Meeting Called to Order by Chairman Taylor at 6:03 p.m. <br /> Town Fall, Conference Room#2 <br /> NEW BUSINESS: <br /> CPA—lulls Faml hands at Santuit pond: <br /> The Co r r iunity Preservation Act Committee held a Special Meeting for <br /> the pose of reviewing matters relative to the purchase of the Mills <br /> Family Lands, a CPA project approved by the voters at the May 2007 <br /> Special Ton Meetg. As a result of the three-year lapse in purchasing <br /> the property,the Board of Selectmen at their meeting of April 12, 201 <br /> agreed to obtain a recommendation from the CPA Committee with respect <br /> to acquiring a fair and marketable purchase price for the Mills parcel. <br /> In 2007,the CPA Committee negotiated a purchase p ce with the Mill <br /> Family to purchase the 15.235 acre parcel of land for$720,000. The <br /> initial real estate appraisal as prepared by the Cape Cod&Appraisal <br /> Group dated January 15, 2007 for the contiguous and non-contiguous land <br /> was $8351,000. <br /> revised real estate appraisal was received from the referenced firm on <br /> April 2 8, 2010 with respect to fair and market value of the Mills Family <br /> Lands at Santuit Pond. The updated value in a sale to one buyer to date is <br /> $740,000. <br /> An in-depth discussion followed regarding fair value the Mills Lands. <br /> In tinme o budgetary constraints the Committee considered reducing the <br /> figure by $50,000 in ars effort to relieve some of the tax payer burden. <br /> } <br />