[MassHistPres] Question re: ground lease

[heartwood]

I too question the 16 million dollar price tag...1.6 million, maybe...

it’s a beautiful building with history...
best of luck...
.....jade

jade mortimer
heartwood window restoration
po box 114 1605 mohawk trail
charlemont, ma 01339
413-625-8680

From: Garrett Laws via MassHistPres 
Sent: Thursday, January 12, 2023 5:36 PM
To: Courtney Meyer 
Cc: MassHistPres at cs.umb.edu 
Subject: Re: [MassHistPres] Question re: ground lease

$16M is a massive amount of money. What’s that cost based on and always remember that not ALL things are required to be done to “bring it up to code”.

On Thursday, January 12, 2023, Courtney Meyer via MassHistPres <masshistpres at cs.umb.edu> wrote:

  Hi all, 

  I am the chair of the Russell School committee in Hadley, MA.  We are trying to save our beautiful 1894 Italianate Russell School building set in town center. (Photo attached.) The approximate cost to rehab and bring it up to code is in the $16 million range, which of course is prohibitive to the town.  In order to save the structure, we are considering the feasibility of selling it to a private investor with a preservation restriction in place, but the town will want to continue to own the land.  We are seeking some guidance on examples and stipulations around a ground lease, and/or use of deed provisions that has ownership of land be given back to the town if the building is destroyed and cannot be rebuilt per preservation restriction. Any insight would be appreciated.

  Thank you,


  Courtney Meyer
  Russell School Committee Chair
  Hadley, MA 01035

  -- 

  Today's Children, Tomorrow's World
  www.theglobalchild.org



-- 


Many Thanks,
Garrett Laws


www.copperandslate.net
The Copper & Slate Company, Inc.
Fine Roofing and Historic Carpentry
238 Calvary Street,
Waltham, MA 02453

(781) 893-1916

LEAD FREE SINCE 2008





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