Massachusetts city to engage in fixed asset development
December 09, 2011
A Taunton, Massachusetts, council committee recently approved a fixed asset
improvement proposal to develop 56 acres of city-owned land, according to the Taunton Daily Gazette.
The five members of the Public Property Committee voted unanimously to create a recreational site that will include a skate park, a boat landing and ball fields. An additional 56 acres will be preserved as a conservation area.
Last month, the city council voted to swap at least 25 acres of industrial park in order to comply with 2002 legislation that allowed the Taunton Development Corporation to purchase land from the Division of Capital Asset Management.
Elsewhere in the state, the town of Newburyport recently sold four surplus properties on its fixed asset register in a bid to raise funds, according to the Daily News of Newburyport. Town administrator Tracy Blais said the city will use the $120,000 it made from the sales to repair and replace its fixed assets
"The proceeds from the sales will go a long way in helping us address our capital needs," she said, as quoted by the news source.