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VHCB approves funding for Bailey property based on $203,000 appraisal; owner seeks second appraisal
Summary
The Vermont Housing and Conservation Board approved funding for the Bailey property purchase based on a $203,000 appraisal. Property owner Bob Bailey has contracted for a second appraisal; VHCB will review it when provided. Closing is scheduled for the end of September.
Tom Kidder told the committee the Vermont Housing and Conservation Board approved funding for the purchase of the Bailey property based on a $203,000 appraisal.
Kidder said the appraisal was lower than owner Bob Bailey expected; Bailey is contracting for a second appraisal and VHCB will review the updated figure when it arrives. The committee noted the closing is scheduled for the end of September but emphasized the timeline depends on VHCB’s review of any new appraisal.
