By NANCY WEST, InDepthNH.org
Laconia Mayor Andrew Hosmer said the purchase and sales agreement for the former Laconia State School property has taken up a lot of time in the last two weeks, but overall he is now feeling more optimistic about the deal.
“I remain hopefully optimistic as we enter this new phase,” Hosmer said.
The Executive Council voted Wednesday to sell the 200 plus acre property with 30 mostly dilapidated buildings for $21.5 million to Robynne Alexander. Executive Councilor Cinde Warmington, D-Concord, moved to table the deal two weeks earlier after a New Hampshire Bulletin story reported on a lawsuit against Alexander in an unrelated deal in Manchester. Warmington voted in favor on Wednesday.
“We’ve taken a deeper dive with the developer. I know we appreciated having the time to do that,” Hosmer said after the vote.
Scott Tranchemontagne, spokesman for Alexander, said the hard fundraising will now begin.
“The hard fundraising couldn’t begin until the purchase and sale was approved,” Tranchemontagne said. “So that will begin now. We’ve had soft commitments of between $100 to $150 million.”
“Legacy at Laconia is honored to be selected to redevelop this important property and grateful for the Governor and Executive Council’s support,” Tranchemontagne said.
Legacy believes its mixed-use proposal will help address the Lakes Region’s desperate need for housing at all levels, including senior living, while reinvigorating the site with a world-class, barrier free resort, new restaurants and shops, and lots of recreation and open space, he said.
Executive Councilor Ted Gatsas, R-Manchester, said at Wednesday’s meeting he never got the personal financial records he asked for regarding the project, and Administrative Services Commissioner Charlie Arlinghaus said he did not have those records.
“I’m not sure we know exactly who….is investing their dollars,” Gatsas said. “Until I see those…my bet is we will be back in nine months revisiting this.”
Councilor David Wheeler, R-Milford, also voted no saying he needed more time to study the project.
Hosmer said it was unfortunate there had been a breakdown in communications between Gov. Chris Sununu and Laconia officials.
“There was a lack of transparency in regards to the buyers. The only thing we knew was what we read in the paper and that sent up a lot of red flags. We’re working through those right now and that’s good,” Hosmer said.
One of the breakdowns occurred because the Lakeshore Redevelopment Commission was pushed aside, Hosmer said.
The commission was a terrific collaborator with the city, but after House Bill 2 gave Sununu the power to sell the parcel, Laconia didn’t have a seat at the table, Hosmer said.
“(Sununu) told people we were in driver’s seat and that’s not true,” Hosmer said. The city’s planning director was able to look at plans and layouts, but had no deep dive into the financials behind the project, he said.
Sununu didn’t respond to a request for comment.
“We did raise significant issues in the 11th hour, but we didn’t have any ulterior motives. Over the past two weeks we’ve become more comfortable with the buyer” who’s agreed to accommodate the city’s parking request and maintenance of the water tower, Hosmer said.
At times, it was awkward, but Hosmer said officials were trying to fulfill their responsibilities in a short period of time.