[Adopted 10-28-1998 STM, Art. 22]
A. 
A Land Committee consisting of five members shall be established. Members of the Land Committee shall be appointed as follows:
[Amended 9-12-2020 ATM by Art. 19]
(1) 
One member selected by and from the Planning Board and appointed by the Select Board Members.
(2) 
One member selected by and from the Conservation Commission and appointed by the Select Board Members.
(3) 
One member selected by and from the Finance Committee and appointed by the Select Board Members.
(4) 
Two members to be selected and appointed by the Select Board Members.
B. 
It is desirable that at least one member of the Land Committee have professional experience in the field of commercial real estate financing and/or acquisition.
[Amended 9-12-2020 ATM by Art. 19]
Members shall be appointed for a term of three years. Initially, however, the members shall be appointed by the Select Board Members as follows: one Select Board Member's appointee to a one-year term; two members, one from the Finance Committee and one from the Conservation Commission, to two-year terms; and two members, one from the Planning Board and one Select Board Member's appointee, to three-year terms.
[Amended 9-12-2020 ATM by Art. 19]
The Land Committee shall function as follows:
A. 
All potential acquisitions of land, improved or unimproved, by the Town for conservation or municipal needs will be referred to the Select Board. The Select Board and the Land Committee will jointly determine whether the potential transaction fits within the Town's long-range priorities and plans and will outline the required due-diligence process. If approved, the Land Committee shall be involved in all phases of the proposed acquisition from this point on.
B. 
The Land Committee will obtain from the owner, or from other available sources as may be necessary, all pertinent information regarding the real estate in question. The Land Committee will perform a due-diligence process, as required, for each potential acquisition. This due diligence will consist of, but is not limited to, appraisals by an independent licensed appraiser and a land use plan by a registered engineer, as reviewed by the Planning Board and Conservation Commission. A title search and an environmental profile study may be required as specified in Subsection D below. Other steps may be added at the discretion of the Land Committee, as deemed necessary. The Select Board and the Land Committee may agree to waive or modify these requirements depending on the particular real estate involved.
C. 
The Land Committee will render written and oral recommendations to the Select Board Members, with copies to the Finance Committee, Planning Board, Conservation Commission and Capital Budgeting Committee. The report will be submitted in a timely manner, providing adequate time for review and recommendation prior to potential Town action. The Land Committee's report will include the reasons for said recommendation and shall include a review of all appraisals and data supporting such appraisals and any other information deemed necessary by the Land Committee.
[Amended 9-12-2020 ATM by Art. 19]
D. 
If the Town votes to acquire land recommended by the Land Committee, the Select Board will authorize the Land Committee to purchase services to conduct an examination of the record title. The Select Board will also authorize the Land Committee to purchase services, to conduct an environmental profile study (i.e., Chapter 21E), when it is deemed necessary by the Land Committee and the Select Board, to ensure the satisfactory condition of the property before authorizing the acquisition of the real estate in question.
E. 
The Land Committee will request an annual budget which will be used in part to cover the cost of appraisals, title searches and environmental studies as specified above, and for any other services necessary to carry out its obligations as set forth in this bylaw. The Land Committee, when authorized by the Select Board, will have the authority to contract for such services.
F. 
The Land Committee will report its activities to the Select Board on a regular basis, or as requested by the Select Board.
G. 
The Land Committee shall schedule, post and conduct meetings in accordance with MGL c. 39, § 23B, the so called "Open Meeting Law." Written minutes shall be taken, a copy of which shall be made available in the Select Board Members' Office.
[Amended 9-12-2020 ATM by Art. 19]