Maine businessman offers to buy school “as is” after town denied a brownfield grant
Local businessman David Kingsley has offered the town of Farmingdale, Maine $170,000 to buy the former Sheldon Street School property. His original offer was $230,000 for the school property with the asbestos removed or $170,000 “as is.” Because Farmingdale was denied the Brownfield Grant they had applied for from the Environmental Protection Agency (EPA) in order to remove the asbestos, Kingsley will be buying the property “as is.” He will have to take care of the asbestos abatement himself.
Kingsley intends to turn the school into senior housing condominiums and convert the gymnasium into a community center, which would be a nonprofit entity that could be used by both town residents and the seniors who lived in the condos. His proposal was one of two offers received when the Capital Needs Committee sent out its request for proposal back in January. Kingsley’s proposal offered more money and a better use of the property than his competition.
The town is working on a payment agreement with Kingsley, who hopes to begin preliminary work on the property in the fall and winter.
For the full story, go to Kennebec Journal.
