Railroad Street Gilead
Upon attending the second meeting of the Board of Selectmen and the town of Gilead citizens concerning the town's proposed purchase of Cole's Custom Auto building on Railroad Street in Gilead, I came away with a feeling of unease and many unanswered questions that I believe the citizens of Gilead should know the answers to before committing to a purchase of this property.
1) How can the owner/designated broker of the real estate company for this transaction act in an unbiased arms-length manner for the benefit of the town of Gilead, when she is a selectman in the town? Is this not a conflict of interest, even though she stated at the meeting she was not personally taking a commission? Her company will?
2) Who is representing the town of Gilead to advise them of their rights to information about the property, such as: the soundness of the structural systems (roof, foundation, doors, windows, heating system, electrical, plumbing and septic, water quality etc.), liens and property boundaries? And, what are the yearly maintenance costs, including personnel, that were not mentioned in the proposal?
3) Are the citizens of Gilead aware that this property is under current pending foreclosure procedures, the details of which are viewable on the Oxford County Registry of Deeds' website and was verified by the Register? The course of events for foreclosures in the current economy indicates that the property would come up for auction, and if not purchased by bid, would be listed by the bank (mortgage holder) for sale. Prices for bank-held properties are consistently reduced until sold at subsequently lower prices. Wouldn't it be advisable to wait for these proceedings to take place? Experience in this market conceivably indicates foreclosure properties selling for tens of thousands of dollars less than initial listing prices.
4) Is this property more than the town of Gilead needs? Do we really need a paint room and equipment? Do we really need auto collision repair equipment? These would be extra assets to be paid for.
5) If the town has specific needs and wants to protect its vehicles from the weather and make them more easily accessible, which is a good idea and proven money saver regarding maintenance, why wasn't a committee formed to investigate all the possibilities rather than proceed so rapidly to buy a building where there are so many unanswered questions?
The above questions are only a few of the many that I have, but are of most concern to me, and because of these unanswered questions, I feel that the residents of Gilead should take every step to insure that the town uses every measure to investigate them before committing to a purchase.
Resident, Town of Gilead
From: Gary Brearley [mailto:firstname.lastname@example.org]
Sent: Tuesday, November 23, 2010 8:07 AM
Subject: Letter to Editer
Attached is my letter concerning the proposed purchase of property in Gilead by the Town of Gilead.
If you feel the letter is significant, please print it.
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