Kennebunkport selectman Pat Briggs, left, and Town Manager Laurie Smith look over a housing project proposal in this 2016 York County Coast Star file photo. The selectmen had asked voters to approve $10 million in funding in an attempt to purchase 85 acres of property across from the Village Fire Station from a development group before it can build a subdivision there. Credit: Donna Buttarazzi | York County Coast Star

KENNEBUNKPORT, Maine — The town of Kennebunkport is under contract to buy an 85-acre parcel on North Street from the Massachusetts-based development group CDMK, LLC following a Sept. 19 town-wide vote in favor of approving $10 million for the purchase.

Credit: Submitted photo courtesy of York County Coast Star

The Board of Selectmen signed the purchase and sale agreement at last Thursday’s board meeting, and also voted unanimously to authorize Town Manager Laurie Smith to act on behalf of the town at the real estate closing.

Smith said in an interview Monday that the property is officially under contract, and the closing has been scheduled for Oct. 12.

The board also voted Thursday to award the bid for the bond anticipation note to Norway Savings Bank. Bids were received from Norway Savings Bank and Camden National Bank.

“This is one of our most important pieces of land we’ve ever gotten and I think there will be a lot of good things coming forward with it,” Selectman Allen Daggett said at the board meeting.

[Town voters approve $10M to buy property from developer before subdivision is build]

Board of Selectmen Chair Ed Hutchins reiterated that the town has no specific plans for the land yet.

“The rumor mill has started. But I assure you, it’s just that. Within a couple of weeks, hopefully the property will be ours. This will be a public process. The public will have a chance for input as we go,” Hutchins said.

“I think it’s going to benefit the town now and well into the future, for our kids and their kids,” Selectman Sheila Matthews-Bull said.

Smith said on Monday that she was pleased with the turnout at last month’s special town meeting, and with the civil discourse that took place.

“I think our goal was to let the town have an opportunity to speak on this and they have had the opportunity. I’ve heard from many people who are very glad that we’ve had to opportunity to do this for the town,” she said.

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