December 9, 2016
On December 8, 2016, the Bankruptcy Court ordered the sale of the USA Springs, Inc. property to Kevin Delaney for $1.2 Million. This begins a 20-day ‘due diligence’ period for the buyer, and the sale is expected to close in early January.
As a result of the settlement negotiations, the Town will recover a very large portion of what it is owed in unpaid taxes. Objections to the Town’s Land Use Change Tax claim have been negotiated and settled. A separate transaction involving an easement for the cell tower on the property is expected to occur shortly after the bankruptcy closing.
In total, the Town expects to receive over $800,000 in tax payments from the two transactions.
Nottingham Select Board