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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; the next step, recommended by engineering consultants Weston & Sampson, is a phase‑2 assessment that will test soil, well fields and onsite structures. The mayor asked the committee to expand the originally listed $82,500 scope (land only) to include buildings and wells for a total of $139,000, adding roughly $56,500 for structures and associated systems.
City staff said the testing would cover approximately 165 acres of the property and that Weston & Sampson expects to deliver a full report in about three months. The mayor also said the city had revised the contract walk‑away date to July 20 and the anticipated closing to Aug. 20; both dates were presented as adjusted from earlier timelines.
Councilor Gould moved the fund transfer from bond premium reserves (account 270000033015) into the RUSLO site assessment account (300000584792025) for $139,000. The motion passed on a roll call recorded as five yes votes and zero no votes. Committee discussion focused on completing full testing to avoid delays to the contract timeline; no amendments to the motion were recorded.
