Finance Committee conditionally backs purchase of parcel bordering Town Forest after competing offers and differing appraisals

The Finance Committee on April 28 recommended that Town Meeting approve acquiring a parcel bordering the Town Forest, but the committee attached a condition that the final purchase price align with the appraisal reflecting the most appropriate use of the land. The recommendation was unanimous.

The committee discussed two appraisals and competing offers. Town Manager Michael Herbert said a second appraisal "reflecting eminent domain considerations" concluded the property was not developable and valued it at $700,000, below the original $1,000,000 asking price. A representative of the Community Preservation Committee told the committee that "the motion figure of $845,000 represents the highest appraised value and the maximum the CPC could allocate," explaining the CPC had set that figure to retain negotiating flexibility.

The landowner, who identified himself as executor of the estate and a 50% beneficiary, told the committee he had "received a higher offer from an Ashland resident and would not accept the lower valuation," a statement that framed the negotiating impasse. Committee members discussed eminent domain only as a negotiating consideration and focused the committee recommendation on ensuring the final purchase price corresponded to the appraisal used to determine the parcel's highest-and-best use.

Chantal Kokaram moved the recommendation; Jonathan Moore seconded it. The motion passed unanimously. The committee’s endorsement sends Article 8 to the Spring Annual Town Meeting for a final vote, where the acquisition and any negotiated price adjustment will be decided.