Foxborough Committee Recommends Sale of Town Land to Raise Revenue
Foxborough’s Asset Review Committee recommends sale of five town parcels to improve its revenue stream.
Tasked with finding ways to monetize town assets that aren’t currently generating tax revenue, Foxborough’s Asset Review Committee has targeted five parcels to sell in auction. Foxborough Board of Selectmen Clerk Lorraine Brue, who also serves on the Asset Review Committee, recently briefed the BOS on the following five parcels the town should consider selling to improve its revenue stream: “We knew these assets could potentially generate additional tax revenues,” Brue said. “So in addition to getting the funds from the sale of the assets, the ongoing tax revenues going forward from the development of these properties could improve our revenue stream.” Brue says an appraisal of these five parcels from a “couple of years ago” estimates a …
In this Article:
Jeremie Smith
10:30 am on Monday, February 4, 2013
Town Asset Review Committee consists of: Lorraine Brue (chair), Bill Casbarra, Randy Scollins, Kevin Weinfeld, Gary Whitehouse and Bill Yukna. http://www.foxboroughma.gov/Pages/FoxboroughMA_AssetReviewComm/index more ›