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Resident warns council against Mass Mutual property purchase without guaranteed tax exemption
Summary
A resident told council a $17.3 million Mass Mutual property purchase carries financial risk unless the city is certain a 100% property tax exemption will apply; the comment urged caution and raised concerns about potential county litigation.
During public comments, resident Ken Cott presented an analysis of the proposed Mass Mutual property purchase and urged the council to reconsider unless the city is “1,000% certain” it will receive a 100% property tax exemption.
Cott said the proposed purchase price is $17,300,000 and, without a property-tax exemption, the maximum prudent price…
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