Townsend Affordable Housing Trust accepts $127,000 offer for town-owned lot, authorizes chair to sign sale documents

The Townsend Affordable Housing Trust voted unanimously June 25 to accept a $127,000 cash offer for a town-owned parcel identified in the meeting as Lot 34 on Hannes Road. Veronica Keel moved to accept the offer and Laura Shiffron seconded; the motion carried on a roll-call vote of the attending trustees.

The staff representative said the offer included a $1,000 earnest-money deposit and noted the respondent provided a bank letter to show sufficient funds. The trust recorded that the purchase-and-sale would be executed within the standard procurement timing in the offer: five business days from acceptance to deliver a draft purchase-and-sale, with a 30-day closing from acceptance (the transcript referenced a July 25 tentative closing date). Members discussed Fourth of July holiday timing and the staff said the respondent indicated willingness to agree in writing to a short extension if the town needed more time.

After accepting the offer, trustees voted to authorize Chair David Warland to sign the purchase-and-sale agreement on the trust’s behalf and to permit electronic signatures. Trustees then separately moved and approved a motion authorizing the chair to sign the offer document so the town could finalize the submission and provide signed paperwork to the respondent.

Staff told the buyer they would circulate a signed offer and asked for the buyer’s attorney contact to link counsel and proceed toward closing. The buyer, identified in the meeting as Phil Colletta, confirmed he would send requested contact information and that an extension, if needed, appeared acceptable.

The vote and authorizations are procedural steps that move the sale into contract stage; the trust and the buyer will complete the purchase-and-sale negotiations, escrow arrangements and attorney coordination before closing. The trust also noted this was the only offer in the current RFP round and that further public notification of price details would occur at the motion, as was done during the meeting.

Next steps: staff will email the respondent a signed offer, confirm attorney contacts, and proceed with the purchase-and-sale timeline; the trust scheduled a follow-up meeting in August to review additional project updates and any outstanding sale paperwork.