UPDATE: A Revised Purchase and Sales Agreement Execution Copy January 30, 2012 (see attachment #8) was posted on 6:20 PM, January 30, 2012. See section 5(d) on pages 4-5 for the revision.
In September 2011, the Town Council issued a "Call for Offers" for the future use of the Plummer-Motz and Lunt school property and hired the CBRE The Boulos Company to assist with this project.
The Town Council received three (3) proposals by the November 29 deadline and reviewed them in executive session pursuant to 1 M.R.S.A. § 405 (6) (C) because they determined that premature disclosure of information contained in the responses to the Call for Offers and of the Town’s reactions to those responses would prejudice the competitive and bargaining position of the Town as it decides on the disposition of the School property.
Three executive sessions were held: on December 12 and 19, and January 9.
The Council prepared a Report that outlines the review process it used to consider all the proposals (see attached).
Based on Council direction, a draft Purchase and Sales Agreement ("P&S") was negotiated with one of the bidders, Ocean View Retirement Community Limited Partnership (see attached).
It is the recommendation of the Council to authorize the Town Manager to execute this P&S agreement with OceanView.
A public hearing to allow for comment on this recommendation was held on January 23. Attachments include the following:
1. Council Recommendations Presentation for January 23, 2012 2. Summary of Proposed Agreement, January 13, 2012 3. Draft Purchase and Sales Agreement, dated January 24, 2012 4. Proposed Property Division, January 2012 5. Proposed
Master Development Plan, January 2012 6. Proposed Financial Summary, January 23, 2012 7. Order authorizing the Town Manager to execute an agreement with Ocean View to sell a portion of the Plummer-Motz and Lunt school properties and providing for public uses, January 19, 2012 8. Revised Purchase and Sales Agreement Execution Copy January 30, 2012 |
