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Select Board votes to dispose of 151 Cottage Street property acquired via tax title
Summary
The board voted 4–1 to dispose of 151 Cottage Street after a land court foreclosure judgment; staff explained statutory steps, appraisal and auction rules and noted the tax-title balance ($102,000) and assessed value ($268,600).
The Select Board voted to place 151 Cottage Street on the market after recently acquiring the parcel through tax-title proceedings, a decision supporters called the cleanest path to resolve the town's liability and pursue potential reuse.
Town counsel and the tax-title attorney reviewed the statutory process. Iris Leahy explained procedural steps for foreclosure and disposition, including the requirement to list with a realtor, appraisal obligations if unsold and distribution of any excess equity. Leahy noted the town's recent foreclosure filings and the complexity of some files; staff and the tax collector provided background on receivables.
Board discussion flagged the tax-title balance and assessed value: staff said the outstanding receivable for the property is $102,000 and the property was assessed at $268,600. After debate about municipal retention versus sale and the potential role of the affordable housing trust, a motion to dispose (place the property on the market) carried by a 4–1 vote.
