EAST PROVIDENCE – Mayor Bob DaSilva said this week he is working with the city’s legal team to explore all options available to the city regarding Metacomet Golf Club, which is under contract for sale to a development company.
The mayor, in a press release, said eminent domain is on the table but “a last resort.” He cited the impact on taxpayers of the new East Providence High School, a nearly $200 million project now under construction.
His release came several days after state Rep. Gregg Amore, D-East Providence, said the city should acquire the 138-acre property by eminent domain. That process requires the government entity to pay fair market value.
DaSilva said, in a letter to Amore, that the city would welcome state financial assistance in an acquisition.
“Acquiring this property would be a very expensive proposition and a burden to our taxpayers at a time when we are building and financing a state-of-the-art, $189 million high school and dealing with financial uncertainties due to the COVID-19 pandemic,” DaSilva wrote.
How much is the Metacomet Golf Club worth?
The golf course, then operated as a private country club, last sold in April 2019 for $750,000, according to East Providence real estate records. It was assessed by the city at nearly $4 million that year.
The current owner is Metacomet Property Co. LLC.
The amount offered by Marshall Properties has not been disclosed. The company, led by Lianne and John Marshall, has the site under contract, a company spokesman said. Although the company withdrew its request for a rezoning and a transfer of the site to the East Providence Waterfront Development District, the company still plans to purchase the site in October, the spokesman said.
Mary MacDonald is a staff writer for the PBN. Contact her at MacDonald@PBN.com.
It is my understanding that new owners had to assume millions in existing Metacomet debt, so the $750,000 sale price is misleading. They also paid for significant upgrades to the facility. To give your readers an idea of fair market value, you need to look at the cost paid by Churchill & Banks for the Kettle Point property across the street.