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BADC says it secured purchase option and paid $5,000 fee for 143 Main Street
Summary
BADC reported it submitted a $1,000,000 offer and paid a legally binding $5,000 option fee to secure the right to purchase 143 Main Street; organizers said the option was drafted pro bono by counsel Sarah Field.
Barre Area Development said it has secured a legally binding purchase option for 143 Main Street and paid a $5,000 option fee to make the offer credible to the out‑of‑state owners. "We actually have, secured... Sarah Field, our attorney pro bono developed the purchase option," Steve McKenzie said, noting the formal offer was intended to get the owners’ attention after earlier, smaller city offers produced little response.
McKenzie said past asking prices had been reported in the $1.2–$1.4 million range and that BADC’s $1,000,000 offer was designed to be credible. He described the option fee as standard practice and said the fee would apply toward purchase if the acquisition closes.
