After months of negotiations, the North End Co-op reached terms with the family, and as President Theresa Lefebvre said, “The bottom line is the sellers agreed to accept our offer and the residents will be buying the park. The details are still in the works, but the agreement is in the bag.” While financial details have yet to be revealed, the Farrington’s had placed the 120 homesite community on the market last fall for $5 million, raising concerns among residents a developer might buy the property and force them to move.
Assisted in the deal by New England Resident-Owned Communities (NEROC), North End was encouraged by the Burlington (Vermont) City Council as well as state legislators. Technical assistance in preparing the bid came from city departments, as burlingtonfreepress tells MHProNews.
Lefebvre expects the deal to be finalized in about four months. ##
(Photo credit: burlingtonfreepress–North End Co-op)
