Smithfield council approves $5.3 million purchase of Overbrook Academy, authorizes up to $4.5 million loan

The Smithfield Town Council voted April 29 to acquire the property known as Overbrook Academy at 60 Austin Avenue for $5,300,000 and authorized the interim town manager to pursue lender financing through a letter of intent with Washington Trust for up to $4.5 million.

Councilman Leonotti, who moved approval of the purchase-and-sale agreement, said the town will finance the property with “a 4 and a half million dollar interest only loan. It'll be interest only for 2 years, giving us a time, time to, determine, you know, what we finally wanna do with the property.” He said the town could lease the building in the interim to help cover loan payments.

The resolution the council adopted directs Interim Town Manager Robert Seltzer to execute the purchase-and-sale agreement and a letter of intent with Washington Trust that would partially finance the acquisition. The motion and the resolution passed after voice votes; the council president announced “Ayes have it.”

Nut graf: The council described the purchase as a move to preserve public benefit and to hold options for future town needs. Council members and residents criticized potential private development and urged the town to consider open space, recreation and community uses while it decides on a long-term plan.

Details and council discussion

Council members said the site—identified in the meeting as formerly St. Aloysius and currently Overbrook Academy—includes roughly 43.4 acres of land as stated during discussion. Council members suggested the property offers space for potential expansion of municipal services, recreation fields or other community uses, and noted the possibility of creating a subcommittee or workshop to gather public input and craft recommendations similar to the town’s prior Camp Sheppard planning effort.

Councilman Toffee (as referenced in the meeting transcript) said the town should solicit public comment and possibly form a subcommittee to guide recommendations for the property. A participant in the discussion referenced the “Brain Trust” of local residents who could help plan the site.

Public comment

Resident Ed DeMille of 75 Whipple Road told the council he would like to see the property kept as open space with walking trails and recreational uses, rather than developed into housing. “It's a lot of land that people would enjoy to walk around,” DeMille said. Another resident who spoke during the public comment period thanked the council for taking the property “off of, you know, the developer's hands” and said preserving it would benefit future generations.

Votes at a glance

- Motion to approve terms of the purchase-and-sale agreement for 60 Austin Avenue, moved by Councilman Leonotti, second not specified; voice vote, outcome: approved (recorded as “Ayes have it”). - Motion to adopt a resolution authorizing the interim town manager to execute a letter of intent with Washington Trust for lender financing not to exceed $4.5 million, moved by Councilman Haganadi, second not specified; voice vote, outcome: approved (recorded as “Ayes have it”).

Next steps and context

The resolution authorizes the interim town manager to sign the purchase-and-sale agreement and a letter of intent with Washington Trust; council discussion indicated final implementation is contingent on completing lender financing and any subsequent steps the manager and town staff determine necessary. Council members repeatedly said they intend to solicit public input—through comment, workshops or a subcommittee—before determining long-term uses.

The meeting concluded with no additional public comment and a motion to adjourn.