Now that the condominium development rights at Southfield Village have officially been sold to Mathewson Properties LLC, the company plans to develop 50 of the 60 units contained within these rights, in addition to the units already on site.
The Peterborough Select Board voted Nov. 23 night to officially sell the rights for $200,000, finalizing what Town Administrator Nicole MacStay characterized as a “very lengthy process.” The town took possession of the rights in 2013, but did not own the land, just the development rights. The final vote followed the lapse of the statute-required week following the close of the previous week’s public hearing on the matter.
The Select Board also approved refinancing three of its outstanding loans through the issuance of refunding bonds through the New Hampshire Municipal Bond Bank. The refinancing comes at no additional cost to the town and will save $445,350 in interest over the course of repaying the three loans.