Hacker’s deal pending

By Dawn De Busk

Staff Writer

CASCO – The final closing on the Hacker’s Hill land purchase by Loon Echo Land Trust (LELT) has been temporarily delayed – until an issue with the sellers’ property title is resolved, according to LELT Executive Director Carrie Walia.

The initial closing date for the real estate deal had been slated for June 14.

According to Walia, “The legal paperwork has just been received, and the Hall family and Loon Echo are working to schedule a closing in the next 10 days.

“As with many land transactions, there is something in the chain of title that was discovered near the end of the project. While we had every intention to close on time, we understand that these things happen and are waiting patiently,” she said.

The non-profit wanted to make certain people were aware of the brief delay.

“We feel that it’s important to keep the public and our donors informed of the status of” the land acquisition, Walia said.

The total cost for the land buyout is $700,000 with another $100,000 being placed in an endowment for perpetual care of the acreage.

“Loon Echo’s goal was to close the sale one year after the fundraising campaign began in June 2011,” she said.

“The closing documents include the agreement required by the Land for Maine’s Future program and the Town of Casco, which have been successfully concluded,” she said.

Meanwhile, the postponement of the land procurement has not put a halt to fundraising.

On Thursday, July 12, LELT held its first Acoustic Sunset. Members of the band Swampdonkeys volunteered their musical abilities for the outdoor event. This recent fundraiser provided an $850 boost toward the drive.

As of now, state entities, private foundations and local businesses and families have raised $650,000.

“Loon Echo is confident that the one pending legal matter will be resolved shortly,” Walia said.

“The Hall family and their attorney are working diligently to clear the title. They want the project completed,” she said.

 

 

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