LIMESTONE, Maine — John Fulton of the property management company TMC has investors lined up to purchase the Masonic Lodge Building in Limestone — but not unless adjacent lots can be purchased from the town.
The three-story Masonic Lodge building is privately owned and sits across from the town’s Post Office; holding up the sale is whether or not the town wishes to part with their parking lot next to the building. Also included in the proposed sale is the property on the parking lot’s other border, a dilapidated building with Main Street frontage slated for demolition by the town this spring.
“If we invest a lot of money to put in a couple of retail stores, we’re going to need parking,” Fulton told the Limestone Board of Selectpeople on March 4.
During Fulton’s first presentation to the board in February, he explained that his investors are discussing the idea of bringing in an Internet-type business with 10 or 15 employees to the Masonic building — and those employees would all need a place to park their vehicles.
A sticking point for the sale has been the site currently housing the dilapidated building, known as “Pete’s Place.”
Fulton’s investors wish to gain ownership of and extensively repair the Masonic Lodge building — where the Masons would remain indefinitely. Taking ownership of the Pete’s Place lot came as an afterthought to the building project, according to Fulton.
“We think we could come up with about $50,000 to take care of the lot next door, knock the building down adjacent to that, landscape it all, repair the building and get it all into top condition,” Fulton said.
Potential tenants for the refurbished Masonic Lodge building, as Fulton described, include a Limestone businessman, and another prospective business to occupy another floor.
“We’re not sure if we’re going to rejuvenate the two or three apartments that are in [the building] for extra income, or try to make it strictly a business building,” Fulton explained to the board during the first meeting on Feb. 18. “That’s why I’m here, to see if we could get some sort of cooperation with the lot next door and with the building adjacent to that.”
Selectperson Jesse Philbrick expressed that he did not want a parking lot where the small building currently rests.
“We have enough parking lots. I want to see a thriving business spruced up there,” he said.
If the town were to sell or give the two lots to the investors, Fulton suggested that a new building could be placed on the former Pete’s Place site in spring of 2016.
Fulton expressed that his investors could commit to beautifying all three parcels, adding that he’d also outlined the Selectpeople’s position regarding a new building on the Pete’s Place lot. Using the middle parking lot for both structures, Fulton said that his investors would be agreeable.
Selectperson Fred Pelletier commented that Fulton and his investors were free to purchase the Masonic building any time they wanted, but the town has never given away business real estate on Main Street, “and the people I talked to don’t think we should start now.”
Pelletier suggested that if the town was going to get rid of those properties, they should be bid out.
“We wouldn’t be opposed to putting a bid on it either, but we’re not going to do the Masonic building [project] without the adjacent lot. We can’t do the Masonic lot with no parking at all,” he said, and clarified to Town Manager Fred Ventresco that the Masonic Lodge project requires at least the purchase of the parking lot parcel.
Pelletier said that he had no problem letting Fulton’s project use the parking lot, but he had no intention of giving up the parking lot.
“Well buy it, or we’ll do a long, long-term lease on it, but we’re not going to do the building [project] unless we have [parking],” Fulton responded.
Selectperson Tom Albert empathized with Fulton.
“No matter what you do, you’re going to need parking. If you just have that front row on the street, you have nothing … so we’ll have to figure something out,” he said.
Selectperson Chair Tom Devoe said that he’s listened to Selectpeople boards for the last 35-40 years, “and it seems every time they drag their feet, they wind up losing something.”
Devoe outlined that once Fulton’s investors gain possession of the Masonic Lodge building, they would be required to pay taxes on it; currently, the Limestone Masons are not required to pay taxes on the property.
With information provided by Limestone Public Works Director Mike Cote, Devoe furthered that it could take about $2,700 to demolish the Pete’s Place building.
“I agree with [Tom Albert] that the town should not be in the real estate business. You have someone here who’s interested, there’s extra tax money coming in — Guys, we’re not going to get the world in this town anymore,” he frankly stated. “I say take the man’s idea and run with it.”
Town Manager Ventresco highlighted that to be sure the Masonic Lodge building would start generating taxes, the investors would have to purchase the property; Fulton expressed that such terms could be included into the written agreement with the town.
Director of the Limestone Water and Sewer Company Jim Leighton, a former Selectperson, chimed in with an idea.
He suggested that Fulton’s investors and the town sign an agreement stipulating that in a certain amount of years, the investors would construct a building of a certain square footage on the Pete’s Place lot.
“If they don’t do it, then you’re taking that property back — end of story,” Leighton described. “That gives you plenty of time to do what you want with your building,” he said to Fulton.
Pelletier expressed that if Fulton was willing to buy the Masonic Lodge, he would be agreeable to such a contract.
“If we want to work with him and he’s willing to sign his name to a contract that at the end of four years, there’s something back where Pete’s Place is, I’m going to work with him,” Pelletier said. “But I want a commitment on the other end. I don’t want it left open.”
Fulton suggested that the town draw up a proposal for Fulton to present to his investors.
“At least once we get something in writing, maybe we can come to some terms,” Fulton said.
Fulton said that he would contact his investors that evening, and would keep Ventresco up to speed on their status.
“I’m hopeful that we can put something together,” Fulton added. “I actually feel pretty good about it.”
The conversation was slated to continue at the next meeting of the Limestone Selectpeople, which takes place Friday at the Limestone Municipal Building at 6:30 p.m.
