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April 3, 2013

Millyard plan set for final vote

(Continued)

Healey said his plans are to expand the building by constructing 30,000 square feet of new office space in place of the existing tin sheds adjacent to the building. He also presented the councilors with an information packet containing private investment figures and artist renderings of the new expansion.

“Depending on the makeup and type of industry that’s interested, he could bring in a couple new businesses to that facility,” said Eric Gregoire, the mayor’s Chief of Staff. “So, those buildings, he was describing what his plan is, right now he’s in the conceptual design of those, and he’s working on finalizing them, depending on all of this coming to fruition.”

Healey’s report included numbers from four private entities: The Chestnut St. Realty Trust, which is comprised of four ARC Technology buildings on Chestnut, Elm and Morrill St.; the Water St. Realty Trust, which includes 9, 21 and 25 Water St.; the Hunt Road LLC, which includes 37 South Hunt Road, another ARC building; and the Oakland St. LLC, which will soon include 1-9 Oakland St, the Durasol Drug Building.

The first three entities have combined to purchase $7,350,000 worth of property and invest $6,189,669 into building improvements between 1995 and 2012, according to Healey’s report. The Oakland St. LLC is in the process of closing on its new Oakland St. properties, and the report indicates that it will invest $2,600,000 in additional building improvements by the end of the year.

The report also indicates that $2,205,406 in taxes was paid from the real estate between 1995 and 2012.

Another concern that was raised by the councilors regarded a condition attached to the city’s accepting Healey’s donated land at 25 Water St., which was that Amesbury would accept full responsibility for any cleanup costs associated with the donated Heritage Park land, including work required if hazardous materials are found in the soil.

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