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Select Board weighing town’s right of first refusal on 46 Taylor Road parcel
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Summary
A Select Board member told the Finance Committee the town has 120 days to decide whether to match a bona fide $1.4 million offer for a 5.8-acre Chapter 61B parcel adjacent to the arboretum; wetlands mapping, appraisal and funding sources remain unresolved.
David Martin, a Select Board member, told the Finance Committee that the Select Board received a bona fide purchase-and-sale offer of $1,400,000 for a 5.8-acre parcel at 46 Taylor Road and is considering whether the town should exercise its Chapter 61B right of first refusal.
Under Chapter 61B, which provides reduced tax assessment for land used for open-space or forestry purposes, towns are entitled to the right of first refusal when a covered parcel is sold. Martin said the town has 120 days to notify the seller whether it will match the offer; if it does, the parties would have 90 days to close while the town conducts due diligence. The parcel is adjacent to the arboretum and the assumption mentioned at the meeting was that it could be incorporated into arboretum holdings, though no formal decision was made.
Committee members asked about the parcel’s current assessment and likely developability. A committee member said the parcel is not being reassessed outside of the transaction context and staff would obtain a market appraisal. Members noted the parcel is believed to be zoned R-2 and that two adjacent parcels are separate transactions and were not in Chapter 61B. Several members cautioned that wetlands mapping on available materials may be inaccurate and that the Conservation Commission would need to determine wetland boundaries before the town could reliably estimate buildable acreage or unit counts.
Martin said the Community Preservation Committee may be asked to consider using open-space or other CPA funds to help pay for the parcel if the town pursues the purchase. He also reminded the committee that the Select Board will hold a public hearing on the parcel on March 5 and that the Select Board might place an article on the town warrant authorizing purchase.
No formal motion or vote to pursue the purchase occurred during the Finance Committee meeting; the discussion served to inform committee members ahead of the Select Board public hearing.
