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Committee reports signed purchase-and-sale agreement for Bailey property; appraisal pending
Summary
Chair Tom Kidder reported a signed purchase-and-sale agreement for the Bailey property and explained a sale-price/donation structure; Vermont Land Trust will record a $265,000 sale with a separate $30,000 donation; final appraisal pending.
Chair Tom Kidder reported that the Bailey property purchase-and-sale agreement is signed but that the transaction encountered a confusing pricing proposal. He said the seller initially offered to sell for $265,000 and then proposed donating $30,000 back to Friends—an arrangement that would effectively reduce the sale price to $235,000. After review, Vermont Land Trust decided to proceed with a $265,000 sale price and record the $30,000 as a separate donation. The committee noted the final appraisal is still pending.
Committee members discussed the purchase in the context of future site management and invasive-species control; the minutes record that maintenance-fee grant funds linked to the purchase could supply up to $20,000 toward maintenance and eradication work. No committee vote on the purchase was recorded in the minutes; the report was informational.
