Date: December 17, 2009
Called to order: 7:00 PM
Attendance: James O’Brien, Gretchen Condon, Susan Crowley, Laura Burns, Tim White and Chris Burns.
Discussion:
Discussed the 80 Beal Street property, which has dropped its asking price from the $500K to $420K. The property is in excess of three acres, uniquely situated in between the Hingham Housing Authority property and the Selectman’s parcel, along Beal Street and within walking distance of the train, commuter boat and bus service. We discussed the exit strategies & uses for the property. All final documentation for 21E, appraisal and underwriting were complete and satisfactory.
Discussed the Advisory Committee meeting update and the requirements of the Allocation Plan per the Warrant Articles.
Motions:
Motion: to confirm purchase price of $399,000 and related customary closing costs associated with the purchase of 80 Beal Street, Hingham property purchase and to obtain financing for the completion of same, to borrow $300,000 from Rockland Trust Company and to execute a Mortgage on the property, and authorize the Chair and/or the Secretary of the Hingham Affordable Housing Trust to sign any and all documents appropriate for the acquisition of said property.
Seconded and approved.