2016.10.24 Council Agenda Item 14
Summary
Order to authorize the Town Manager to execute an option agreement to purchase a parcel of land, located between Mast Road and Highland Lake.
A public comment period will be included with this item (3 minutes).
ACTION: Council action is anticipated.
Description
The Council is being asked to approve a purchase option for 43-acres of property between Mast Road and Highland Lake. The property contains a ±15- acre wetland that has been compromised by a gravel road built through it in 1976. It also includes ±700 feet of Highland Lake shoreline and 2,200 feet of frontage on Suckfish Brook. The purchase will include the work needed to restore the natural functions and values of the wetland by removing the road, planting native vegetation, and eliminating invasive plants. It will be permanently protected by a conservation easement granted to the Falmouth Land Trust.
The total cost of the project will be $352,710. $340,260 of that amount is proposed to come from two grants: $95,000 from the Dept. of Environmental Protection (already awarded) and $245,260 from the Maine Natural Resources Conservation Program (MNRCP) Mitigation Fund. The seller will contribute $6,050 and the Town $6,400, the latter an in-kind contribution reflecting staff time and invasive control. It is possible that additional local match will be necessary. Should that be the case, the Council will be asked to authorize such funding from the existing open space acquisition budget.
A $10,000 deposit (earnest money) is required by the seller; this deposit is refundable if the Town doesn’t receive the MNRCP grant.
Attachments include a map and a boundary survey of the subject property, a proposed budget including the breakdown of revenue sources, and the option agreement.
