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` Conservation Commission <br /> May 22 1991 <br /> Page 2. <br /> Mr. Coffey stated with $1,105 per acre expense, cost $25,000, the o fission' <br /> $25,000 percentage, there is another $50,000 involved, profit factor. That is <br /> something for the Commission to angle towards in future negotiations. <br /> Mr. Reardon did not feel the 25% agreed upon to finish out the contract was <br /> unreasonable. He recommended the Commission eater into ars agreement with them <br /> to purchase the irrigation system with funds from the 1991 crop; there would be <br /> two seasons to pick crops and three to pay for. <br /> Ms Behrman felt the irrigation system should not be prepaid and they not get the <br /> last portion until the final monies have been paid in. <br /> Mr. Reardon recommended buying the system and felt perhaps the town will be stuck <br /> with the Stearns $74,320 appraisal figure; a $7800 credit is due the Commission; <br /> $22,200 is in the purchase acount leaving a balance of $44,320; entering into a <br /> Purchase & sales Agreement with credits on the drop, not a Lump sum payment. <br /> .-There..was unanimous .agreement ,the credits .should be put in a special. interest- <br /> bearing account and when the last payment is received, a lump sum payment be <br /> made to them. <br /> Mr. Reardon stated they are contemplating an installment purchase by credits to <br /> the crops. He had no problem, as long as the town is protected by documents. <br /> The town should be entitled to benefit for loss of interest. <br /> Mr. Coffey had brought that they were accepting the low price because it is <br /> predicated on prepayment install encs. <br /> Mr. Reardon felt is the Commission made a commitment ton.lght to purchase the <br /> irrigation system, it would give Atty. McGillen more discretionary power in <br /> dealing with the town to set a price. <br /> Mr. Coffey advised. the 92 budget is balanced on receipt of this year's crop <br /> price. Mr. Reardon stated that would mean we would only be dealing with two <br /> crops. <br /> Mr. Coffey stated their stance ,has been they are not financially. strong. <br /> trade of checks was discussed; terms of payment and timing is negotiable. <br /> Mr. Reardon proposed to set up another meeting with Atty. McGillen and his two <br /> clients; he will get ahold of Stearns and try to get a copy of the plan. He <br /> would lie to show good faith.- He advised the cranberry industry in Massachusetts <br /> is a very close family, anyone coxing in to bid on the hog would be aware of any <br /> informiiation and appraisals. <br /> Vim: Monon made and seconded to agree to purchase the cranberry irrigation <br /> system at the lowest possible price and to authorize Town Counsel and <br /> Executive Secretary to act on behalf of the Conservation Commission., <br /> with the assistance of the Bog Cottee, Unanimous Vote. <br /> NOTED: The 1990 harvest report and payment is late and should not be delayed. <br /> MW SEABMY CO, L ., if Course/Lily Pond, Continued From February 21. <br /> =nqM To Mff 309 1991, at the request of the applicant. <br />