Ocean Street Property Advisory Committee

Ocean Street Property Advisory Committee

The Select Board voted 11/6/2023, to create an Advisory Committee to provide the Board with a list of options for use of the 41 Ocean Street property.  The term of members of the Committee and the Committee itself expire on March 31, 2024.  This committee is subject to RSA 91-A, which means it needs to meet the posting requirements for meetings and keep minutes as required in this statute.  There is no budget for the committee, so the committee will be responsible for doing its own minutes within the 5-day deadline of RSA 91-A.  The size of the committee will be determined by the Select Board which will appoint a chair for the committee.

The purpose of this committee is to create a list of options for the use of the property.  The purpose is not to rank these options nor to come up with a preferred option.  This committee’s charge is similar to a brainstorming/charrette session in which all the options that people suggest are listed without being ranked. The terms of the bond require that any use of the property be for a public purpose.  IRS regulations forbid the use for profit.  Sale of the property could also trigger these IRS issues.  In addition, some uses would trigger the need to return all of the remaining $1,000,000 donation (see document).

The Board does not require but would like the committee to develop an estimate of the cost for their options as well as the pros and cons for each option.   

The Board plans to use the options developed to survey residents via the Town’s website email list.  The results of the survey will be one of the considerations of the Select Board in deciding the next steps for the property.  People may sign up to be included at https://www.newcastlenh.org/subscribe for the category “Town News and Announcements”. 

Those interested in serving on the Committee should notify Bernice Barnes, AdminAsst@newcastlenh.org