Monday, May 19, 2008

Sale proceeds cannot be used for operational purposes

GHS
Posted May 18, 2008 @ 09:50 PM

FRANKLIN —

Town Council is slated to vote on the prospective $2.5 million sale of the former Four Corners School to Walgreens on Wednesday.

Arista Development, LLC, of Norwood, which is proposing the Walgreens Pharmacy, was the only bidder for the town-owned property at the intersection of King Street and Rte. 140, said Town Administrator Jeffery D. Nutting.

Arista has developed several Walgreens across the northeast, including Bellingham, said Arista Principal Scott A. Weymouth, noting he also helped develop the CVS on East Central Street.

The $2.5 million bid was a good offer, Nutting said.

The town paid $1.325 million for the Four Corners property about a decade ago, he said.

Read the full story in the Milford Daily News here.

Listen to the proposal made at the Town Council meeting here and read my notes from that meeting recorded during the meeting here.

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