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Friday, October 17, 2014

When opportunity knocks

Well , not quite the week I anticipated, but anticipation can often fall under the "assume" rule, so it is what it is.

Latest update on the TA article is we should see some action out of Boston in time for the Special Town Meeting. Whether you feel that is a good thing or a bad thing, it is something that needs to be done, as far as getting it back to town meeting.

At this point, truthfully, it is the best option on the table. Personally, it would be worth passage in my mind this December.  It might throw a few kinks into the whole process as far as a mid-year start, however it will also work toward the long term smoothing process I think.

The selectmen meet Monday, and on the agenda is the issue of the appraisals for the former school buildings.  Presumably the price is out, and we all get to hear about it Monday, hopefully.

Those buildings will be seeing articles on the STM warrant.  Money for publication of the RFP and maybe other stuff, who knows at this point.

Between the former school buildings, the TA and of course the Mill Road land purchase it should be an interesting night in early December.  Keep in mind the issue driving the rationale about the land.

Someone needs to sell this one to the voting members.

The buzz on the street is not favorable.  But the buzz doesn't vote on this, and given recent performances either does half of the elected membership.  Whether through the stabilization fund or by borrowing, the vote needed will be 2/3s.

The reason given here is in no way a real emergency.  What is driving this is that this land is on the market so to speak right now, for an intended purpose future use some years from now. Intended, not certain.

This may in fact be the only option, at present, to acquire land to build a dual safety complex some time in the future. If one accepts all of that, one then accepts the "need".

There is no doubt that at some point we will need to do something relative to the building needs of the police and fire department. I sincerely mean that.

What exactly needs to be done is by no means an established fact at this time. Must a complex housing both departments at the same site be built? An apparent decision seems to have been made but based on what?

I would like to think that one would give serious consideration to the concept of separation of the departments.  One can make several arguments, obvious ones I think and as such not noted, as to why you might want separate sites.

Those arguments in fact don't even center around potential reuse of an existing facility either, although that one certainly forms a basis for a sound argument as far as exploring functionality and cost effectiveness of a proper remodel for one department at the existing site and a newer building at a second site.

Indeed it seems the whole "complex" concept revolves around building the ideal complex apparently done on the fly so to speak.

As to the good idea to buy all of the land and sell it, while initial indications where we could buy the land carve out what we want and sell the rest and recoup our money, I am guessing the more likely scenario is we could recoup some of our money, and how much will most would definitely be dependent on what we intend to sell the extra land for, i.e. for "use".

Note the word "some" as opposed to "all".

One need only look to a sale consummated in 2009 involving another tract of land of very similar size in the vicinity of this parcel to understand that this is not going to be the "all it can be" deal the preliminary sales pitch has suggested.

First, a significant portion of the land is wetlands.  The problem with that is of course an obvious one, compounded by the fact that it seems, at least as of this moment, we have conflicting information about how much of the land is wetlands, and even what part of the land is or is not wetlands, and whether the wetlands location renders portions of the upland essentially useless.

Rounding the numbers, I have heard figures as high as 19 acres being wetlands to as little as 10 acres being "wet".  Which means there is as little as 13 acres of useful upland or as much as 21 acres. 

Falling into the assumption trap, with little other choice at the moment, taking into account the extreme optimism and pessimism of some, factoring in the buffer zone concept, let us assume you might have 15 acres of upland.

The land value we are told is $1.465 million. It is based on an actual appraisal we are told. The land is presently zoned residential and presumably the appraisal is based on its present zoning.  

I am again hearing different scenarios as to how much of the land will be held for future town use.  I have heard as little as 6 acres and as much as 10 acres.  

Basic math coupled with basic understanding of the real estate market tells you that you are going to loose resale value equal to the value of the land you do not intend to sell. So we face another concrete question that needs to be answered prior to shelling out the money, I would think we do anyway.

The really interesting thing in this, and it is interesting from my perspective, is the sales pitch so far.  

So far it has been wrapped in the idea we need to do something, with the implication it needs to be done right now and right at this site.  It isn't working. Again, at least not from the buzz on the street.

The story behind this land quest adds an interesting twist.  I started with the desire to pick up like 7 acres.  That was the original amount of land (plus or minus a few feet) sought to be removed from the agricultural restriction.  Then through the various quirks and avenues under the law, the original plan is withdrawn and another plan with more land submitted, which is then withdrawn when the town decides to chase after that, which is then withdrawn with a plan for all the land submitted and the town finally is able to catch the cat by the tail.

If you look at what was originally on the table, you have to wonder a bit about the evolving thought process here.  Well I do anyway.

All that aside, the sales pitch in my mind is completely wrong. I am intrigued much more by the good opportunity concept than the "need" rationale. I can see the financial benefits.  I can see the benefit of the town controlling this parcel.  I can envision a plan.  All that is conceptual however, and in need of some firm hard data that apparently does not presently exist.

Where any inclination toward such a purpose stops however is in fact using one of the proposed sources of funding. Not the stabilization fund.  Sorry.  The level of that fund presently should not be depleted by any amount for good ideas.  

The fund has been built up and left untouched recently for the primary and repeated purpose of maintain what we have been told, over and over again is the minimum financial reserve we should have not only for or much discussed bond rating, but emergencies. Any balance over that reserve, has been for all ready indicated "necessities" and is woefully short on that account.

You want money for good opportunities, come up with a real plan for  putting it aside.

If it is that good an opportunity, if there is that much confidence in the conceptual plans for use and for sale of land, if you actually have the firm conviction of your beliefs, than there should be no need to touch one red cent from stabilization for this.  

Sure borrowing will cost a bit more.  But be for warned, if you use the stabilization fund for good opportunities, you open the door so wide you will be able to drive anything you want through it for all "good" things. No smoke, no puffing, not scare tactics intended when I say that if stabilization can be used for this good opportunity given all of what exists presently, it should be able to be tapped for any "good" purpose.

Personally, if this is such a good opportunity, the opportunity should be grab the whole thing and sell it all off as part of a redevelopment plan.  You wouldn't have to give me that great of odds for me to put money down that this is what is going to happen anyway.

I know a rather long dissertation on this.  Another issue to beat into the ground.  Another reason I think I have overstayed my welcome in a certain capacity.

It is becoming more obvious with each new idea and concept that I have lost touch with the well tested, unwritten policies in our town.  Either that, or I have lost the ability to modify and adept to circumstances.

I understand some are arguing this is a proactive approach to meet a future need.  Perhaps it is just that I am able to come to grips at how quickly everything has been decided on this particular issue. You have to admit this is the fastest resolution to a problem we have seen in a long, long time. It could also be due in part to the fact I was unaware of how immediate the future need was, and how certain this is the right decision to meet that need apparently is.

Anyway, it is time to go I think,

Be safe.

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