April 29, 2017 (Municipal Advisory Committee)

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Municipal Advisory Committee Meeting
April 29, 2017
Manset Site visit

Members present: Brandon Stubbs (MAC), Joanne Thormann (MAC), Ingrid Gaither (MAC), Karin Whitney (MAC), Nick Barton (MAC) Jim Fortune (TCI),) Joy Sprague (BOS)

-Call to order at 1:00

-Review: Jim
• Property bought in 2003- total Manset property taxes per year ~26k
• 128 Parking sports, 100 rented
• 3 Structures-
o Marsh Building-
 Now empty- had tenant for 14 years
 Tenant paid rent ($29,323) plus 50% of Property taxes (1/2 of $4972)- Thus, having tenant covered property taxes for entire Manset property
 Currently listed with Dunbar Realty as commercial listing at 1200 per month
 First floor is very large office space
 2nd and 3rd floor could be residential- perhaps 2 tenants?
 Change of Use? Might require a change of use permit from CEO. Egress issues?
 Research residential with cost analysis- weigh cost against value
 Tour- “residential side”- 3rd floor has 2 rooms, 2nd floor has 4 rooms plus a bathroom and small kitchen
o Warehouse
 4 Bays- 2 rented by Weimer, one, by Dowling and one by Ben Moore/Cranberry General
 Also has very large sail loft- empty
o Boat Shop- Pagel pays 18k a year with holdover lease signed in 2009
 Resident waiting area is Boat Shop
 Need to deal with boat storage, upkeep, apartment
• 24k in reserve for roof shingling- if not used, goes into Manset Reserve which currently has approx. $100k
• Therefore there IS money in reserve for renovation
• Not allowed to “make money” but a good goal would be to meet expenses
• Parking Lot discussion- Off season boat storage for TCI residents?
• Motion- Suggest to Selectmen that no leases be renewed until a thorough review of the property and its corresponding leases is complete. Passed

-Meeting adjourned 2:40-