To the editor:
Regardless of whether the town or the lessees own the houses at Conomo Point, one thing remains the same: No final decision has been made as to the future of this spectacular place.
The Selectmen are pushing for continuing the remaining leases on the Point for another 15 to 20 years in order to insure the financial future of the town. While we are all concerned about the current fiscal challenges facing Essex, including the need for the remodeling of the town’s safety facility, renovation of Town Hall and the need for a new elementary school, is it really worth avoiding a resolution to such an ongoing divisive issue? One possible solution that has not been publicly discussed is that of life leases.
A life lease, a legal term used in real estate, is exactly what it says. Current lessees and their spouses would be allowed to live out their lives on the Point. Once the lessee decided to leave or passed away, the house would be removed to create open space. Here are what I believe to be the advantages of such an approach.
A single life lease would allow the current renters to stay put for the remainder of their lives. Their children, and in some cases grandchildren, could continue to enjoy the traditions of the Conomo Point community. This would also avoid the unfair and painful process of selecting which houses should be razed to create even a limited amount of open space.
From a financial point of view, life leases would provide the town with the same revenue stream for the next 15 to 20 years — the timeframe in which the town will be dealing with many of its challenges. After that, at first slowly and later exponentially, the revenue stream will decrease as houses are removed.