NAHANT — The Board of Selectmen discussed the possible sale of the Coast Guard Housing at its meeting on Wednesday.
The town most recently closed on the sale of Lot #7, which is located at 2 Goddard Dr., Town Administrator Tony Barletta said.
Back in August, the town formally announced it would be selling 12 buildable residential lots on the site of the U.S. Coast Guard Housing that it purchased more than 20 years ago, according to the town’s website.
Massachusetts Procurement Law dictates a formal sales process to which towns must comply. At the Annual Town Meeting in 2021, a motion was approved for Article 20, that authorized the Board of Selectmen to sell alternating lots in two offers over two years, with three deed restrictions.
The three restrictions are prohibiting any single individual, entity or group from purchasing more than one lot, prohibiting any lot from being combined with any other lot, and limiting the maximum floor area ratio of said lots to 25%.
The town’s website stated it will hold a formal procurement process, through which the lots will be sold to the best qualifying bidder. Factors that qualify bidders for purchase include the amount of the bid, the ability to sign a purchase-and-sale agreement within a week, and the bidders ability to secure solid financing within 14 days of the sale.
The town is currently working with its legal team and the listing agent to draft the details of the subsequent Request For Proposals (RFP) on the remaining lots at the site.
Barletta also said during the meeting that lots Lot #9 and Lot #11 will be set for closing on Dec. 13 and Dec. 17, respectively.
“With the closing of Lot #7, and the project closings of nine and 11, we’ve reached out to legislature to inform them we won’t need the special legislation extending the loan period,” Barletta said.
Barletta said the Board feels the town is in a good position to start chipping away at the loan when payment is due in January.
