Referendum Delayed On Purchase Of Edgewood Properties

Press release from the Town of Southbury:

July 3, 2020

The Southbury Board of Selectmen voted unanimously at a special meeting on July 2, 2020 to pass the following resolution:

RESOLVED that the Southbury Board of Selectmen will delay the referendum on the exercise of the town's option to purchase Edgewood Bath and Tennis Club, currently scheduled for Thursday, July 16, 2020 and will use the ninety (90) day extension granted by the Seller of Edgewood for the town to complete its due diligence with regard to the transaction. Further resolved that a new date will be scheduled by the Board of Selectmen for the referendum.

The owners of Edgewood Bath & Tennis Club have graciously granted a 90-day extension on exercising the option to purchase Edgewood.

There is additional due diligence the Town feels is necessary to move forward with this transaction. As information is available, we will continue to share updates on the Town website.
In business transactions it is not uncommon for extensions or other considerations to be made so that the desired goals of both parties are met. The Board of Selectmen would like to thank the owners of the facility for their continued understanding and cooperation.

Southbury Town Hall, 501 Main Street South, Southbury, CT 06488
Website: www.southbury-ct.org
Facebook: www.facebook.com/SouthburyFirstSelectman
Instagram: @southburytown
Twitter: @SouthburyTown

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This press release was produced by the Town of Southbury. The views expressed here are the author's own.