05/27/2011

Town Council to consider $350,000 pledge to help fund purchase of greenbelt link

The Town Council will consider pledging $350,000 to the Cape Elizabeth Land Trust as part of a proposed major land-trust acquisition adjacent to Robinson Woods.

The land trust's acquisition of 63 acres will secure the longest remaining link needed to implement the original municipal greenbelt plan first developed more than 35 years ago.

The proposal before the Town Council on June 13, 2011 will be to fund the pledge with $150,000 from the Town’s Land Acquisition Fund and with $200,000 saved from refinancing a portion of the municipal debt.

The funds would go to the Cape Elizabeth Land Trust upon it securing funds from other sources to fully pay for the $1.1 million purchase amount; and, upon the Town receiving a public access easement over the land-trust property.

For more information:

Acquisition Details
Chris Franklin
Cape Elizabeth Land Trust Executive Director
207-767-6054

Town Potential Financial Contribution Details
Michael McGovern
Cape Elizabeth Town Manager
207-799-5251