NORWAY – Norway Savings Bank will pay approximately $71,000 to construct a shared parking lot with the town, Town Manager David Holt said Thursday.
The two will sign a contract soon with Korhonen Land Care of Bryant Pond to do the work on the Danforth Street property, which is between the town office and the bank.
The lot was purchased by the town in 2001 for $75,000. A house on it was torn down in April.
In May, selectmen signed a memorandum of understanding with Norway Savings Bank that detailed the financial commitment and other issues involved. The bank will pay for everything except lighting, according to the agreement. The town would provide the manpower and equipment “when available and appropriate” to minimize the cost of the project. Gravel fill from other town road and utility projects, including the Route 26/Fair Street road project, will also be used to fill the lot when available, Holt said.
Fifty percent of the lot was conveyed to the bank for its financial contribution, but it cannot sell its interest without first offering it to the town at no cost. The reverse is true, if the town wants to sell its half of the property.
ldixon@sunjournal.com
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- A bulldozer is parked on the Danforth Street site that will become a parking lot for use by the Norway town office and Norway Savings Bank.
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