The Board of Selectmen announced the execution of a Purchase and Sale Agreement with Wellesley College today. You can watch the announcement streaming live on Wellesley Media Channel. * Please note these a my quick notes while watching the stream.
Cost is $35 million.
Town will pay the property taxes and reimburse taxes since July.
At least 50% to remain open space
No roads to be created to impact Wellesley College on Route 135. There will be a buffer to the college.
Two representatives from Wellesley College will be on Planning Board committee
Community Garden will stay for 3 years
House will be leased for 5 years to Wellesley College
Environmental – Town will start Phase 1 now with help of Wellesley College funding. Town will then take on responsible (with some exceptions).
Buildings erected will meet LEED Gold Standard.
Lighting to comply with Dark Skies Standard.
Dec 18th – Sign Purchase and Sale Agreement
January 5th – Selectmen Meeting
January 7th – Advisory Meeting
January 20 & 21 – Special Meeting
January 22-April 30th – Due Diligence Period
March 3rd- Town Meeting on Debt Exclusion
May 29th – Closing
Watch announcement live at http://www.wellesleymedia.org/wellesley-government-channel.html
***Copies of documents and the presentation will be available on Town North 40 website