2017.09.11 Council Agenda Item 01
Summary
Order to authorize the Town Manager to execute an option agreement to purchase a parcel of land consisting approximately fifty-nine (59) acres, more or less, located near Hadlock Road as shown on Town of Falmouth Tax Map R06 Lot 057 and a portion of Tax Map R06 Lot 056, and to approve the use of $30,000 from the Open Space fund as a match for a Land for Maine's Future Grant.
A public comment period will be included with this item (3 minutes).
ACTION: Council action is anticipated.
Description
The Council is being asked by the Land Management & Acquisitions Committee to consider the purchase of a ±59-acre parcel of undeveloped land off of Hadlock Road owned by the Vandermast family. The parcel abuts Hadlock Community Forest and Hurricane Valley Farm. The Council discussed this parcel at its July 24, 2017 meeting.
This parcel represents the “missing link” in a ±2,200-acre nearly contiguous conservation corridor stretching from Windham, across North Falmouth, and into Cumberland. Its acquisition would allow for a key trail connection for pedestrians, mountain bikers, and snowmobilers that would link Rines Forest in Cumberland, through Falmouth, to the Lowell Preserve in Windham.
A Land for Maine’s Future (LMF) grant will soon be submitted for funding for this purchase. LMF requires a 50% funding match. While an easement on Hadlock Community Forest may constitute much of the required match, the grant will be much more competitive if the Town were to add an additional $30,000 in cash as matching money.
The appraisal value range for the purchase land is $270,000-$290,000. A survey has been completed. An option agreement has been drafted to limit the price to no more than $290,000 and the option would be contingent upon the Town's receiving LMF funding for the purchase.
UPDATE 09/11/17: the draft option agreement has been revised. The latest version is now attached.
Attachments:
- Background memo from staff
- Map of the property
- Property rating
Draft option agreement
