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Council authorizes mayor to pursue purchase of Rousselot property and approves $25 million bond order for acquisition
Summary
The council voted to authorize the mayor to sign a purchase‑and‑sale agreement for roughly 164.6 acres owned by Rousselot, citing water rights, flood mitigation and open‑space benefits, and approved a $25 million bond order to fund the acquisition; votes were unanimous in committee and carried by the council.
The Peabody City Council on Jan. 23 authorized Mayor’s Office to enter into a purchase‑and‑sale agreement with Rousselot PBD Inc. for approximately 164.58 acres and later approved a $25 million bond order to finance the acquisition.
Finance committee members and the mayor described the rationale: the property carries existing process‑water permits of about 3,340,000 gallons per day, is supplied from a basin the city considers not water‑stressed, and could reduce Peabody’s summer reliance on wholesale MWRA water…
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