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Precinct chairs briefed on $500,000 proposed deposit into Nuclear Mitigation Stabilization Fund and Holtec PILOT terms
Summary
Select Board member Kevin Canty summarized Article 14 and the Holtec PILOT: the PILOT would deliver about $13 million over eight years with a $3 million land-acquisition credit; the town has $11 million in the stabilization fund and is proposing a $500,000 addition ahead of Town Meeting.
Kevin Canty, representing the Select Board, presented Article 14 on Feb. 19, describing the Nuclear Mitigation Stabilization Fund (created at Spring Town Meeting 2013) and the town's discussions surrounding Holtec's Pilgrim land interests. Canty said the PILOT under discussion would provide roughly $13 million in payments to the town over eight years and a $3 million credit intended to support land acquisition; he described the current stabilization fund balance as roughly $11 million and said the Select Board was proposing a $500,000 additional contribution, which would raise the fund balance to about $11.5 million.
Canty outlined what the PILOT would and would not do: it would provide the payments and the credit and would strengthen the town's rights of first refusal and access for planning work, but it would not prevent Holtec from selling land that remains in forestry status nor would it guarantee sale of parcels during the PILOT term. He said the PILOT expires in 2035 and noted appraisal estimates for the Holtec parcel at approximately $35 million to $50 million; he said the seller had not indicated an interest in selling at the present time.
Committee members asked about appraisal timing and whether any groups had formally expressed purchase interest; Canty said an updated appraisal would be available for Town Meeting. Public commenters (including Kevin Lynch) raised concerns about communications to precinct members and urged clearer executive summaries for the warrant packet.
Barrett and Canty encouraged precinct chairs to consult the article backup and promised appraisal and supporting materials ahead of Town Meeting.
