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Peabody committee OKs $139,000 for phase‑2 environmental testing ahead of possible Russoaux purchase
Summary
The committee approved a $139,000 transfer from bond premium reserves to cover phase‑2 environmental testing of the Russoaux property, including buildings and well fields; the city’s walk‑away date and closing were pushed to July 20 and Aug. 20, respectively.
The Peabody City Council Finance Committee approved a $139,000 transfer from bond premium reserves to pay for expanded phase‑2 environmental testing of the Russoaux property as part of due diligence for a potential purchase.
The mayor told the committee the city completed a phase‑1 environmental review and received results that allowed staff to move forward;…
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