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Guest asks Otisfield to act as lender on Moose Pond community forest loan
Summary
At the Jan. 7 Selectboard meeting, guest Lee Dassler asked the town to serve as an interest-free lender for a $200,000 expansion loan to acquire an 85-acre Community Forest on Moose Pond and said the proposal will go to voters because the funding application is due June 26.
Lee Dassler, a guest at the Jan. 7 Otisfield Selectboard meeting, asked the town to act as an interest-free lender so a land trust can acquire an 85-acre Community Forest on Moose Pond. Under the proposal the town would provide a $200,000 loan and be repaid on closing, while holding the associated land until voters decide at a special town meeting.
Dassler said the funding application is due June 26 and that the regular town meeting is scheduled for June 28, so the proposal will be presented to townspeople at a special meeting. She also urged the board to evaluate projected revenue losses and current investment interest rates when determining the size of a stewardship endowment to cover long-term management costs.
No formal action on the proposal was recorded in the minutes. The Selectboard will include this request on a future meeting agenda for follow-up and, if advanced, the financing plan and stewardship endowment question will be presented to voters at the special town meeting referenced by Dassler.
