February 21, 2017
The town’s “motion for relief,” requesting permission to begin tax deed proceedings on the former USA Springs, Inc. property, was granted by the bankruptcy court on February 21. An order to that effect will be drafted in the coming days and be formally issued by the court.
The relief will take effect on March 9. It gives the Town permission to start the notification process for tax deeding on March 2. By state law, the deeding process takes at least 30 days.
The approved sale of the property could still close before the deeding is complete, which would transfer ownership to the buyer instead of the Town. (See terms of the sale here). The buyer still intends to close the sale, and is pursuing financing.
The Select Board is satisfied with the outcome of today’s hearing. The Town finally has a clear path to possibly ending the bankruptcy process and recovering some of its losses. While the sale may still occur, the court’s order provides the earliest possible date to begin the tax deeding. A copy of the formal order will be posted on the Town web site when issued.
The Board has scheduled a Public Information session for Thursday, March 9, 7pm, at the Community Center. We will provide an update on where the case stands at that point, explain related Town Meeting warrant articles, and answer questions. For those unable to attend, the meeting will be broadcast on Channel 22 and available on YouTube shortly thereafter.
Nottingham Select Board