East Providence Council takes no action on old Riverside schools redevelopment contract

Members balk at purchase price, suggest change in plan

By Mike Rego
Posted 6/6/18

EAST PROVIDENCE — In the face of opposition by area residents and their representative on the council, the body at its June 6 meeting deferred taking action on a proposed agreement between the city …

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East Providence Council takes no action on old Riverside schools redevelopment contract

Members balk at purchase price, suggest change in plan

Posted

EAST PROVIDENCE — In the face of opposition by area residents and their representative on the council, the body at its June 5 meeting deferred taking action on a proposed agreement between the city and a developer to purchase the old school department property between Hoppin and Burnside Avenues.

Numerous homeowners in the Riverside neighborhood balked at the proposal by the Terrapin Group LLC, headquartered in Cumberland, to construct 33 condominium units at the site, which last housed the East Providence School District’s administrative offices. Then Superintendent Kim Mercer and her staff moved into the third floor at City Hall some five years ago as part of a facilities consolidation plan implemented by the state-appointed Budget Commission while it was in day-to-day oversight of East Providence’s operations at the time.

Ward 4 Councilor Brian Faria expressed his support for his constituents and also balked at the agreed upon sales price of $500,000, saying it was well below the assessed value of the property, which divided in two is about $2.5 million, and a figure of approximately $1.3 million he claimed the same developer had previously negotiated to pay for the land and the two buildings situated there. Mr. Faria also concluded the city should put the property back up for sale and “market” it more aggressively, a sentiment backed as well by Ward 2 Councilor Anna Sousa Tuesday.

Ward 3 Councilman Joe Botelho and Council President Jim Briden countered those assertions to an extent. Mr. Botelho, a realtor by trade, said in his professional view the “real” value of the property was not much north of the $500,000 figure, potentially closer to $600,000. Mr. Briden stressed a difference in the assessed value vs. actual value, adding the developer was including the additional cost of razing the existing structures on the property as part of the purchase price.

Mr. Botelho concurred with that assertion, adding in his opinion it would be more fruitful for the developer to consider opting against constructing condominiums and instead break up the property into single-home residential units, a number he pegged at 16. He said it was likely to be more profitable, which would satisfy the developer, and the homes would be in line with the flavor of the neighborhood, which would satiate local residents. He suggested the attorney representing the developer to apprise his client of his proposal to determine a willingness to resubmit the plan based on the single-home model.

Asked as well for her input, Acting Planning Director Diane Feather explained the city, through a realtor, had marketed the property for several years to no avail since the Budget Commission’s action. She said the deal on the table was the lone response to a recent Request For Proposal initiated by the city for the property.

Michael Resnick, an attorney at Kelly, Souza, Rocha & Parmenter, P.C in Providence representing the developer Tuesday, told the council he was authorized to rescind his client’s proposal immediately if no action was taken. He said he was obligated to inform his patron of the meeting discussion and of Mr. Botelho’s idea, but he had no authority to address the matter at the moment.

The council agreed to return to the item to its June 19 meeting agenda and recommended the developer make an appearance in-person to discuss the matter more specifically.

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