Hopedale didn't receive any formal bids by its Sept. 1 deadline to purchase the historic Town Hall building, but Town Administrator Mitch Ruscitti revealed during a Monday, Sept. 8, Select Board meeting that a "reputable party" has expressed interest.
Ruscitti said during the meeting that the prospective buyer is someone who owns several local properties. He said the party, who has not been named, will meet with the Select Board and visit the site next week.
Other options discussed Monday include either bringing Town Hall to an auction house or hiring a broker who specializes in municipal buildings. Ruscitti said the town remains open to any new proposals, as long as they meet the criteria discussed at Town Meeting in May, when voters approved the sale and redevelopment of the 1886 building.
The main deterrent to prospective buyers — and a key reason why Hopedale is seeking to sell — is that the building faces up to $20 million in necessary renovations to get into in compliance with the Americans with Disabilities Act, as well as address structural and HVAC issues.
Bids were accepted for seven weeks, but none was received by the town's Sept. 1 deadline.
Also on Monday, town officials discussed a tax package that would involve offering an incentive for a project that benefits the town long term, such as a housing development. As part of the package, the developer would receive a temporary exemption from paying the full approved property tax value. This is intended to offset the financial gap between the cost of development and the rental numbers, Ruscitti said.
Combination with sale of Route 16 project considered
Select Board Chair Scott Savage, suggested combining the Town Hall building sale with a proposed housing development on Route 16.
"The end use is going to be the same on both properties," he said. "It's going to likely be housing and some component might be affordable over there. Potentially first floor commercial, so they are similar in what the end use of the property is going to be."
Hopedale receives no bids for historic Town Hall building. What's next
Ruscitti added that affordable housing is a strong consideration for both projects because the town has not yet reached the 10% affordability threshold required to thwart so-called 40B projects.
If this is deemed to be not feasible, Savage suggested moving forward with an auction, despite the potential for the town to lose control over future use of the historic building.
Board to revisit previous interest and meet with new prospective buyer
Select Board member Glenda Hazard suggested that Ruscitti revisit interest shown during earlier in the bidding process. Before the Sept. 1 deadline, the building had received significant interest from buyers, including site visits and requests for the Request for Proposals (RFP). However, Ruscitti said those prospective buyers could have been hesitant due to the high cost of redevelopment and requirements needed for housing units.
The board ultimately decided to meet with the "reputable party" and to follow up with those who previously expressed interest. The issue will continue to be discussed at future meetings.
Ruscitti stressed the importance of coming to a conclusion in coming months. After three months of inactivity, the building's insurer may consider the site abandoned, which would increase costs for the town.
The Town Hall building, at 78 Hopedale St., was constructed in 1886 with the financial support of George Draper, a local textile manufacturing magnate. It officially opened a year later. But the building’s age has led to several infrastructure issues including the HVAC system, environmental concerns such as asbestos, lack of heat and plumbing problems.
Town offices are scheduled to be relocated in October to suites at 54 Hopedale St.
Beyond Full, a cafe and diner that operates out of Town Hall, has said it plans to seek a new and larger space.