The Town of Yarmouth has purchased 233 Water St. (the old cotton mill office building) from the Yarmouth Area Industrial Commission. Belle Hatfield photo
By Belle Hatfield
For the Vanguard
Yarmouth Town Council has approved $267,000 to purchase 233 Water St., which was home to the South West Shore Development Authority prior to its dissolution in 2010. It also housed the Yarmouth Area Industrial Commission, which held title to the property prior to its sale in April.
Funding for the purchase of the building, which originally housed the old cotton mill’s management offices, was approved as part of the town’s 2012/13 budget. The budget passed unanimously at the July 12 town council meeting. The town has purchased the property from the industrial commission at far below its assessed value of $615,000.
The town has plans to relocate the town detachment of the RCMP to the building, but major renovations are required to meet RCMP specifications and work is not expected to begin in this fiscal year.
The Town is budgeting for it to cost $200,000 to renovate the building to meet the RCMP’s needs and plans to spread the costs over two budget years. It had originally budgeted $125,000 in the upcoming year’s budget for year-one renovation costs, but deferred that spending in recognition that the specifications probably won’t be ready this year.