The Midcoast Regional Redevelopment Authority has approved the sale of 214 acres of former Brunswick Naval Air Station property to developer George Schott, who owns more than 700 former base housing units.
The towns of Topsham and Brunswick must still approve the $3.35 million land sale to Schott, who in 2010 outbid MRRA to buy 702 units, The Times Record reported. The land underneath the units was still owned by the Navy until this year, when it was transferred to MRRA as part of the base's decommissioning. As part of the deal, MRRA will buy 12 former units and 28 acres in Brunswick from Schott for $800,000. MRRA would collect payment from Schott through a revenue-sharing agreement, giving the organization about 20% of each home sale over a 10-year period.
The town of Topsham last week voted to table review of the plan, while Brunswick officials are slated to review it a second time tonight, the paper reported. A sticking point in Topsham has been Schott's plan for the housing units there, which previously included demolishing 48 units but now does not.