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Board approves up to $3.02 million to buy 108-acre property with plan to transfer to Bethel Land Trust
Summary
The Board of Finance approved up to $3,020,000 to buy a 108-acre parcel the town says could be flipped to the Bethel Land Trust to secure state open-space and Highlands Act funding; members discussed grant uncertainty, lost interest on invested funds and competing capital needs before the vote carried by voice.
The Bethel Board of Finance voted to approve up to $3,020,000 to purchase a 108-acre property the town showed to members and intends to transfer to the Bethel Land Trust pending grant awards and town-approval steps.
A presenter described the parcel as a 108-acre assemblage of several lots the town had negotiated to buy for a $3,000,000 purchase price and said the town would ask the Bethel Land Trust to apply for state open-space funding and a Highlands Act federal grant. The presenter said the town’s purchase was intended to protect the parcel from rapid developer interest and to position the land trust to secure grant reimbursements; he asked the Board of Finance to approve $3,020,000 to cover the purchase and closing costs.
“The goal is for them to reimburse us for $3,000,000 for the purchase price,” the presenter said, and described the plan to execute a letter of intent with the land trust and then support a land-trust-led grant application. He said state open-space funding could cover roughly 50% and Highlands funding could cover about 40% of the purchase in his estimate, and that the remaining share would be raised by the land trust.
Board members commended the conservation value but raised budgetary concerns. One member asked how guaranteed the grant funding is, and another said, “The word hope is… I have a problem,” signaling discomfort with relying on future reimbursements. Brad, the town finance presenter, noted revenues had exceeded expectations this year — in part due to stronger interest income — and outlined options for where to fund the purchase (fund balance, capital nonrecurring or transfers), noting transfers typically occur in the fall.
The board approved the motion to authorize up to $3,020,000 for the purchase, with funds to come at the discretion of the finance director; members recorded the approval by voice vote. The presenter said the next steps would be approval by the board of select, a town meeting (tentatively scheduled) and a possible referendum. The transcript shows multiple variant spellings of the property name; the presenter characterized the parcel as a large, contiguous open-space opportunity that would connect nearby preserves and trail networks.
