The Old "New" Library site
To qualify the above title, I'm referring to the old library site that was supposed to be the site of the new library until the Library Trustees decided to buy a new site for the new library. Anyways, the Selectmen have submitted a Warrant to sell that land again.
ARTICLE 33. To see if the Town will vote to authorize the Board of Selectmen to convey to Gilford Village Knolls, Inc., a 3.19 (+/-) acre parcel of land situated at 43 Potter Hill Road and more particularly referenced at Tax Map 226, Lot 78-1; under such terms and conditions as the Selectmen may deem to be in the best interest of the Town; provided that the sale price shall not be less than the original purchase price of one hundred fifty thousand dollars ($150,000).
There will be some that will say "hey, Skip, the Trustees NEED that money to pay back the line of credit they took out!". Well, sorry, but they made a realy bad decision and it is not up to the taxpayers to bail them out.
Ask yourself - the current BAILOUT at the national level is to prop up those people, companies, and states that refused to live within their means? Do we want to replicate that (albeit at the nano-level) that philosophy?
$400,000 is a lot of money that the Trustees arranged to use - far more than $150,00 asking price of the lot. While the intention may have been for the good of the building, the Trustees showed that they were being more than a little anxious to finish the project - to the detriment of their finances. They made a bad decision.
In short, they counted their chickens before they even had the eggs.
From a practical standpoint, it is doubtful that the Village Knolls folks will be able to raise the funds / get a loan for the $150K in today's environment as the value of the land has most likely fallen well below the price. That said, I would not want to see a long term P&S set up between the Town and the VK folks JUST in case an interested buyer does come along that would be willing to pay the price.
