Post date: Jun 03, 2020 5:36:41 PM
The project is funded and ready to begin. Closing is expected this week with work to start shortly thereafter.
To that end, we are finally ready to transfer the property. Counsel has been through the documents associated with this over the past weeks and the deed includes reservation of easement needed for bike path.
I've attached what we believe will be the final documents -- attorneys on our end and theirs have been exchanging edits through the end of last week. I am confident that in whatever form the documents are finalized, they will have been thoroughly vetted by Berkshire Housing's counsel and our own.
In order to facilitate the document movement, it's recommended that the Board authorize one person, either one of you or me to sign and execute necessary documents for this.
Recommended motion from counsel is:
MOVED, pursuant to the vote taken under Article 30 of the May 15, 2007 Annual Town Meeting, to convey to Cole Apartments LLC the Town property located at 330 Cole Avenue for affordable housing purposes, reserving therein trail easements for the Mohawk Trail Project, and to execute, and to authorize _________________ to execute, on behalf of the Board, a deed to said property and any and all other documents and agreements necessary or convenient to accomplish the foregoing conveyance.