Morristown buys Option on Cole Property

by Amy Kolb Noyes

MORRISVILLE - In a last-minute deal handwritten on a lined piece of
paper, the Morristown Selectboard offered $10,000 to Clifford Cole Jr.
for an option to purchase his property at the corner of Richmond and
Main Streets, in Morrisville, for $125,000.
Real Estate Agent Roberta Goddard was at the Selectboard meeting Monday
evening, June 21 representing Cole. After the board hashed out the
impromptu document, Goddard left the room with the offer and Town Clerk
Mary Ann Wilson's cell phone. She returned moments later to report of
Cole, "He'll sign this."
The decision to act quickly came after Goddard reported to the board
Cole is busy preparing his property for two new rental units, which were
due to be delivered within a week. Cole and a crew have been busy
demolishing the old apartment building on the lot.
The town had been interested in purchasing Cole's property to construct
a new Town Hall/Library complex. However, when the bond issue was
defeated on a re-vote, Cole moved forward on his own plans for the
property. Goddard said she came to the meeting to report Cole would
entertain the idea of a six-month option on the property for $10,000, to
be applied to the eventual purchase price, if a deal were to be struck
right away. Otherwise, said Goddard, two modular units would be placed
on the property "within, hopefully, a week."
Goddard added Cole was also looking for reimbursement for the demolition
of the old structure on the property. She said he wanted the town to
either pay his estimated expenses of $16,000, or pay the actual expenses
to date and have the town crew take over the demolition project.
The board was at first hesitant, not knowing if the town would continue
to pursue a Town Hall at that location. In addition, Chair Brian Greenia
said he doubted whether the town would be in a better position to make a
purchasing decision six months from now.
Town Clerk Wilson asked the board, "What about securing that option
anyway?" She added the land would be valuable to the town even if a Town
Hall were not built there. She noted the lot is in an ideal location to
serve many purposes such as parking for the school, parking for the
soon-to-be expanded library and she said it could be vital in the town's
future efforts to calm traffic at that intersection.
Selectman Shaun Bryer added the school might be facing loosing the
parking for employees at the Graded School, Currently, the Advent
Christian Church allows teachers and staff to use its parking area.
"I think the $10,000 is a wise move," chimed in Selectman Jim Paige.
Greenia reiterated his concern saying six months would be an
insufficient amount of time for the town to make a final decision. He
said he would be supportive of purchasing an option if it were to be for
one year.
Town Administrator Paul McGinley reminded the board they would not need
to bring the town hall issue up for a vote to purchase the property.
"Bring just the property purchase to vote," advised McGinley. "Then you
can use it for a Town Hall, parking, traffic control, whatever."
Goddard told the board Cole is willing to cooperate with the town, but a
decision would need to be made quickly. She said she did not think he
would go for a one-year option, because he might want to do something
with the property next spring if the town did not exercise an option.
The motion was made by Paige to offer Cole $10,000 to purchase a nine
month option on the property, bringing the decision making date to March
21, a couple weeks after Town Meeting 2005.
Goddard reiterated Cole would be looking for reimbursement for his
demolition expenses. She also told the board Cole has been standing firm
on his asking price of $125,000. Against Goddard's advice, the board's
first draft of its offer stated the purchase price would be negotiated
by the time the offer expires. The board reconsidered that decision and
put a purchase price in the offer.
With board member Cathy Voyer not present, the selectboard unanimously
approved and signed the offer, handwritten by Bryer. It stated, "Our
intent is to offer $10,000 for an option to purchase the Cole property
at the corner of Richmond and Main Street, with an understanding that
the property will be held for 9 months (March 21, 2005). The $10,000
will be applied to Mr. Cole's $125,000 asking price. Specifics will be
negotiated prior to the end of the 9 month period. An official document
will be drafted for our June 28, 2004 meeting, if Mr. Cole agrees to
this offer."
Town officials also outlined the next steps for proceeding with the Town
Hall project. It was decided Paige and Zoning Administrator Mark Leonard
will draft a survey to poll public opinion on that topic. A public forum
will then be scheduled to discuss the survey findings.