Select Board executes McDowell conservation documents ahead of May 25 closing

LINCOLN -- May 17, 2010, Lincoln Select Board clears McDowell acquisition documents days before closing. The board unanimously authorized execution of five conservation and agricultural preservation restriction documents tied to the multi-party McDowell purchase, with the principal CR amendment approved subject to a side letter giving the town a one-dollar repurchase option if Mass Audubon ever divests. Special counsel Kathleen O'Donnell told the board the option arrangement, drafted by Mass Audubon's Charlie Wyman, also provides for a pro-rata split of proceeds in the "incredibly remote" scenario of a three-party sale. The deal closes May 25 and combines town bonding, Community Preservation Committee funds, Rural Land Foundation and Mass Audubon contributions, and state APR proceeds to eliminate three permitted building envelopes. The board separately approved package store liquor regulations with a 10 p.m. closing, voted to support Somerville and Framingham in the MPO election, and scheduled a June 9 public update on the $5.5 million Phase 2 roadway project.