Post by Poor Richard on Jul 13, 2022 19:43:20 GMT -7
Two Million Dollar Offer is Withdrawn
Not one director could be bothered to vote
Not one director could be bothered to vote
An offer to purchase High South Glastonbury land owned by the Glastonbury Landowner's Association (GLA) has been withdrawn. Director Tim Brockett was working with an investment group that wished to purchase Parcels 96 and 102 in High South. According to Brockett, the group wanted to build residential homes on parcel 102 and develop parcel 96 for recreation and Forest Service land access. The group hoped to attract a younger crowd that valued stunning views, clean air, wide open spaces, and easy access to hiking trails, fishing opportunities, mountain biking and hunting. The investors were even talking about trying to buy the waterfall property that is privately owned and next to parcel 96. Discussion centered around turning that into a day-use park for all-season activities. Summer use would include picnic areas while winter use would be centered around cross-country skiing.
According to Brockett, the investment group was skeptical when they discovered that the properties were not listed on GLA Financial statements. They wondered if the GLA even knew how valuable the parcels were. But they eventually authorized Brockett to offer one million dollars to the GLA to get the process moving. Not a single director bothered to second Brockett's one million dollar motion. The investment group was ready to walk away but after much discussion, authorized a two million dollar offer and were willing to negotiate up to 2.5 million if necessary. Again, not a single director could be bothered to vote. At that point, the investor group consensus was that the GLA was not a serious or professional organization. They asked Brockett to withdraw their latest offer and cancel the pending motion.
With just 12 hours left before the motion expired, and no votes recorded, Brockett withdrew the motion to purchase High South parcels 96 and 102 for two million dollars.
Two million dollars could have fixed a lot of roads in Glastonbury. New homes would mean more GLA assessments and fresh faces too. A park with trails, picnic areas, and more will also have to wait.
According to Brockett, the investment group was skeptical when they discovered that the properties were not listed on GLA Financial statements. They wondered if the GLA even knew how valuable the parcels were. But they eventually authorized Brockett to offer one million dollars to the GLA to get the process moving. Not a single director bothered to second Brockett's one million dollar motion. The investment group was ready to walk away but after much discussion, authorized a two million dollar offer and were willing to negotiate up to 2.5 million if necessary. Again, not a single director could be bothered to vote. At that point, the investor group consensus was that the GLA was not a serious or professional organization. They asked Brockett to withdraw their latest offer and cancel the pending motion.
With just 12 hours left before the motion expired, and no votes recorded, Brockett withdrew the motion to purchase High South parcels 96 and 102 for two million dollars.
Two million dollars could have fixed a lot of roads in Glastonbury. New homes would mean more GLA assessments and fresh faces too. A park with trails, picnic areas, and more will also have to wait.