In this commentary we would like to explain the Selectboard’s thinking on the proposed purchase of the LeBoeuf property in the West Charlotte Village.

We feel that the purchase benefits the town in the following ways:
In Burns property and West Charlotte Village planning sessions, the LeBoeuf land has long been considered an important property. Clearly, the Burns and LeBoeuf properties are tied together from a planning standpoint. The LeBoeuf land purchase gives the town the opportunity to definitively plan this valuable area of town.

Since the lot where the Charlotte Town Hall and Library are located provides little room for expansion, the adjoining LeBoeuf property is the logical area for additional municipal buildings when needed in the future.

The LeBoeuf land purchase will allow the town to fulfill two goals expressed in the Charlotte Town Plan—to control development in the Route 7 corridor and to protect natural areas (in this case the headwaters of Thorp Brook).

Is $1,200,000 a fair price?

By using a simple calculation, the value of the land can be illustrated. With 51 acres, the parcel could be subdivided into 10 market-rate residential building lots. With a conservative value of $120,000 per lot, the purchase price of $1.2 million seems fair. (The land is commercially zoned and in the center of the village where smaller lots are allowed for commercial uses and for elderly or affordable housing.)

What will be the cost to town taxpayers?

The Vermont Bond Bank estimate, using very favorable Recovery Zone Economic Bonding ($160,000 total savings), shows a first-year cost to the town of only $25,000, second-year cost of $150,000 and final (11th) year cost of $122,000. In real terms to the homeowner, this calculates for a $300,000 home value to about $10 the first year and $45 or less in the remaining years.
It is possible that money could be recouped through the selling or leasing of parts of the parcel to private groups who would develop the land to the extent desirable by townspeople and as determined by means of a public planning process.

Is the property too wet to be usable?

No. While there are wetlands on the property, there is plenty of dry land available for use. Because the town’s Land Use Regulations require clustering of buildings in any subdivision, along with a requirement to set aside 50% of the land as open space, the maximum density can be realized in a small area while preserving many of the significant natural features of the land. This is not to say that the Selectboard is looking toward full build-out of the land, but is meant to demonstrate that the land is developable and is worth what we are offering.

Is there any septic capacity on the parcel?

No; however, the town has a large amount of septic capacity nearby on the Burns property. The use of septic capacity on private land, available to Mr. LeBoeuf for his earlier plans to develop elderly housing, may be an additional option.

Why now?

In the case of real estate purchases, you need a willing seller – and that is what we have now. Although negotiations between the town and Mr. LeBoeuf took place over several months, it was only recently that agreement was reached on a purchase price for the land.
Selectboard members are well aware of the tough economic times and have put forth an operating budget we feel is sensitive to the concerns of townspeople. This land purchase will result in a small increase in the tax rate, but with substantial benefits. With approval by Australian ballot of Article 12, Charlotte citizens will gain control of a central piece of land in Charlotte. Through community planning, the use of this land can be determined so that town goals are met and the unique character of Charlotte’s West Village protected.

Charlotte Selectboard
Jenny Cole
Winslow Ladue
Charles Russell
Ed Stone
Frank Thornton