Penobscot County OKs $40,000 second option payment for Amel Industrial Park parcel

Penobscot County commissioners voted Oct. 29 to authorize the second nonrefundable option payment tied to a county purchase at Amel Industrial Park.

Mr. Hughes, who described the contract to the commission, said the county fully executed the purchase contract May 6 and made an initial nonrefundable option payment of $20,000. He told the board that a second option payment of $40,000 is due Nov. 1 and a third $40,000 payment will be due upon receipt of all necessary site-location and development permits. He said the option agreement expires May 5, 2027.

Commissioners asked whether payment amounts and timing were public; Mr. Hughes said they are public and that the third payment’s timing depends on permitting and other variables. Commissioner (unnamed in the audio) reiterated that the option is standard practice to hold property while the county completes due diligence and waits for a June bond vote that could authorize full purchase funding.

After discussion about fiscal prudence and testing already completed on the parcel, an unidentified commissioner moved to make the second option payment. The motion was seconded and approved by voice vote.

The payment preserves the county’s purchase option without obligating it to close immediately; the county staff said the third $40,000 would only become payable if permitting milestones are achieved. Commissioners framed the payment as prudent to prevent losing the parcel while awaiting the outcome of a planned bond vote next June.

The matter was handled on the consent of the board; the county did not approve a full purchase at the Oct. 29 meeting and said future steps depend on bond results and permit progress.