PRA chair says conveyance must complete by June 30 for agency budget; town faces $10M responsibility

Sean Nugent, chair of the Preston Redevelopment Agency, addressed the Board of Selectmen during the Feb. 18 budget workshop, linking the PRA’s proposed operating budget to the pending conveyance of the hospital and Riverwalk parcels.

Nugent told the board the PRA submitted a budget of $42,662 on the condition that conveyance of the referenced parcels be completed by June 30, 2026. He said that the agency’s legal fees were $179,000 last year and that legal costs this year will be “significantly less” if conveyance completes. Nugent described four principal PRA responsibilities after conveyance: funding what was previously described as a $9 million obligation that he said is now $10 million and will be the town’s responsibility through the PRA; addressing differences between current and original plans (a joint PRA and Planning & Zoning responsibility); managing any other unknown issues that emerge; and responding to questions about tax modification.

Nugent emphasized that the June 30 date is dependent on several factors tied to finishing the environmental process and completing conveyance paperwork. The PRA chair’s comments framed the agency’s budget request as contingent and time-sensitive; board members did not take a formal vote on the PRA request during the meeting.

Resident Andy Depta congratulated the PRA on progress and suggested a July 4 conveyance date if possible. The meeting record shows the PRA request and conveyance timeline as the key near-term items for town leadership to monitor.