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a <br /> x <br /> B. Concerns expressed by the Homeowners. Mr. Butler explained <br /> that they held two meetings With the homeowners and provided a <br /> representative of the management company and Mr. Sokolovic. They <br /> reviewed all the terms and conditions of the special permit <br /> modification with them. He thought they had successfully <br /> addressed all the previous issues brought up by the homeowners . <br /> Their major concern was with the STP plant fund and reserve fund. <br /> Mr. Butler had not seen the letter the Board received from the <br /> homeowners association. <br /> He will review the letter and report back to the Board. <br /> He will try to submit a letter and draft conservation restriction <br /> ahead of the next scheduled meeting. <br /> Mr. Butler stated that they will then be ready to come before the <br /> Board f or .a _formal . vote on the final - draft. <br /> Wi l lowbend: Tony Ferragamo stepped down. (Pat Coffey returned) <br /> Mr, Butler explained that the RFO process was completed. There <br /> has been a successful applicant and they have submitted a non-- <br /> refundable deposit to the RTC. They are now going through due <br /> diligence with the buyer. The buyer is Bent Twig Limited <br /> Partnership. <br /> It is clear that they are taking the property subject to all <br /> outstanding permits , etc. <br /> There will be a site visit with Conservation Commission on May <br /> llth at 10:00. <br /> They anticipate a closing on or before May 22nd. <br /> The new prospective owner has requested that RTC allow them to <br /> enter into a management agreement for only the golf course to <br /> provide repairs and operate the course. They are negotiating it <br /> now, it will be subject to all requirements of the special <br /> permit. <br /> Mr. Butler does not see any problem with this arrangement. <br /> Mr. Butler explained that RTC required a 10% non-refundable <br /> deposit and the evidence of the ability to close on a cash basis , <br /> which shows the financial capabilities of the corporation. <br /> Tom explained that Arlene Wilson has been hired by the new owners <br /> as the environmental consultant and has been going through the <br /> file. <br /> Judy explained to Mr. Butler that she hopes the prospective <br /> owners understand that any questions regarding water quality <br /> assessment answers will have to be answered by a person with <br /> expertise in that field, with proper educational background, <br /> credentials . <br /> Mr. Butler will pass this information on to the prospective <br /> owners. <br /> 2 <br />