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Select Board approves 99 North Main lease amendment; clarifies fuel-tank liability and adds ninth apartment
Summary
The Select Board unanimously approved Amendment No. 1 to a 99-year lease for 99 North Main Street with RSJ Property Services, clarifying liability for above-ground fuel tanks, adding a ninth residential unit to the lease allowance, and ending the buyer’s due-diligence period.
The Select Board voted unanimously Jan. 13 to approve the first amendment to a 99-year lease for 99 North Main Street with RSJ Property Services.
Town staff said the amendment responds to lender concerns by making explicit that the lessee will have no liability for two above-ground fuel tanks that service the property’s fuel pumps. Staff also said the town will pursue a Form A survey to transfer a small corner of the parcel (containing the tanks) to the neighboring fire-department parcel; the town and the buyer are sharing survey costs and staff expect the Form A work to be done by February.
The lease was also revised to allow a ninth residential apartment (previously the lease allowed two commercial units and eight residential units). Town staff said the amendment ends the buyer’s due-diligence period and that, upon execution, ownership and responsibility for the building transfer to the buyer.
Concerns raised at the meeting included whether future tank releases would remain the town’s responsibility (a board member noted the tanks remain on town property and the town would be liable if leaks occur). Staff said the tanks are currently above-ground and there have been no releases reported.
The transcript records the motion to amend the lease, a discussion of the two primary changes (fuel-tank liability language and an extra dwelling unit), and a unanimous vote approving the amendment; an exact roll-call tally was not specified in the transcript.
