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MASHPEF HIGH SCO'HOOL BUTUDIAIG COMMIUEE MINUTIES
<br /> NOVEMBER 23 , 1993
<br /> EXCUT IVE SLSSION
<br /> Executive Session convened at 8 : 50 p . m.
<br /> A quorum being present and a majority having voted to go into
<br /> exe(.,,,ut*fve cress icin , the chair states that notice and posting of
<br /> ,U)e ern eeting wa8 given , after, executive session the meeting will
<br /> reconvene , the purpose of this executive session is to discuss
<br /> the purchase , exchange , lease or value of real property .
<br /> All of the foregoing Js- hereby made part of the official minutes
<br /> of this body .
<br /> Mr _,, Dick Dennis from Casey arid Dennis was present, to talk about
<br /> -the appraisals ,, Ide explalned he used a sales compar-ison
<br /> techniquc_ , he does research , analyzes thea marl-eet activity and
<br /> comes -to a conclusion . This 'tells what other people would pay
<br /> for that property ,, Both sites have large tracks of lr.�.nd rand
<br /> subdivision pcxtentlal . Methodology which works best for thosea 'is
<br /> direct sales comp arison or subdivision analysis . Some 'lots are.
<br /> easy -to analyze , 'larger on are difficult.
<br /> Mr . Dinizio explained the, Committee ha.�3 decAded to 'leave out -the
<br /> -ier, arid better
<br /> - 1 property along It has a higl
<br /> Rte '130 .
<br /> o["n m e r c 1 a
<br /> use for the -town.
<br /> Mr-,. Dinizio asked if there -is a s-igni ficant difference to acquire
<br /> either site?
<br /> Mr. Dennis explained this -information .is confidentlal and should
<br /> not leave this roorn. If there are court cases in the future
<br /> anything said by a town off-icial can and w-ill be used against
<br /> you .
<br /> The total acqu-isition oos-t of the Center, site including -the,
<br /> commercial property ( Kerrigan ) 'is $900 , 000 . 'It increased a
<br /> little since Wis prel -jmin�,-Lry estimate because of the
<br /> determination from Town Counsel that the Al property is
<br /> developable ,, With the commercia l property removed ($'100 , 000 and
<br /> 60 , 000 ) total will be $740 , 000,
<br /> 'Fotal acquisition coc,,,,-,t of the 1 ,51 site $66010004
<br /> The sites are assessed at :
<br /> Center $17900yOOO .
<br /> `15] - $ 9203000 .�
<br /> Mr . Casey said recent sales reflect that 50% difference :. He was
<br /> -told the difference' between his numb and .the, assessment will be
<br /> different when the new tax bills come out shortly. it will
<br /> especially be different for the Cranberry Hollow (Grassetti )
<br /> property because -the permi't is now dead for the '144 condos . '"r h P,
<br /> s.i to can be dev(�loIced for about 30 lots, and 'the sewage treatmer-ft
<br /> plant is of no valu -for 30 lots ,,
<br /> There is no way 'to know 'if the assess-ed value of $9, 20 , 000 for- the
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