Overlook appraisal comes in low at $8,250,000

When the purchase of a portion of the Overlook property on the Great Salt Pond, owned by Steve Filippi, was approved by voters at the May 2021 Financial Town Meeting, it was with a couple of caveats. One was that the property be successfully subdivided into two lots; the other was that an appraisal must be conducted and be “acceptable to the Town Council.” The agreed upon purchase price for the larger of the two resulting lots was $10.5million, with the Block Island Land Trust contributing $4 million, the Block Island Conservancy and The Nature Conservancy pledging $2 million and the taxpayers of the town covering the balance of $4.5 million.When the purchase was proposed, it was presented as a place where a harbors facility could be built with a dock, restroom and shower facilities, and housing for Harbors Department employees on the second floor. The facilities would cost an additional $2.5 million.There were many townspeople and two of the five Town Council members against the purchase. Opponents said it was rushed, it was expensive, it was nota priority, the location was problematic.Proponents, mainly from the conservation groups, lauded it as an opportunity to acquire “the last” commercial

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