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Selectmen authorize town manager to consult attorney on using LLC to limit liability ahead of property closing
Summary
Facing a discrepancy in square footage on a pending purchase of 50 Pleasant Street, the board authorized the town manager to ask the town attorney about creating a town‑owned LLC and to spend up to $300 to pursue that option before closing; if attorney advises against it, the manager was authorized to proceed with closing.
The Selectmen discussed a pending closing for 50 Pleasant Street and a newly discovered discrepancy in the property's reported square footage. Some board members recommended limiting the town’s exposure by holding the property in a town‑owned single‑member LLC until environmental and survey questions are resolved.
The board voted to authorize the town manager to contact the town attorney to investigate setting up an LLC, expend up to $300 for that legal work, and, if the attorney advises against creating the LLC, to authorize the manager to complete the closing and sign documents. Members discussed that the LLC option would be inexpensive (board members estimated fees well under $1,000), could be created quickly and could later transfer a cleared property to the town if desired.
The motion passed and the manager said he would follow up with legal counsel before the scheduled closing.
