The Mission of Preservation Chelsea

It is our mission to preserve Chelsea as a village rich with history and charm, reflected by historic buildings, surrounding farmlands, and as found in our beautiful and vibrant village center. We aim to work through education, offering to ourselves and the community the history of Chelsea as well as the issues shaping our future. We intend actively to preserve historic landmarks and to have a voice in all issues that affect any possible de-centralization of our village. It is our intention to pursue this mission with full involvement and input from merchants and citizens of Chelsea and to act in ways that make sense for the preservation of Chelsea's charm and historic integrity while supporting a vibrant and successful downtown.

Federal Screw Works

Federal Screw Works
This property has been under threat of total demolition since 2008--there are historically signficant and architecturally interesting sections that should be preserved!

Jackson Street Panorama

Jackson Street Panorama
The DDA voted at the meeting on 9.20.12 to demolish the Daniels Addition Car Showroom despite the letter from the State Historic Preservation Office. (please read below)

Friday, September 17, 2010

Points sent to each City Council member, p 6

would have been to sign purchase agreement with contingency on raising capital, giving us 60-120 days to secure say $300k, but we never got to discussing details with the DDA
o   Commercial financing accounted for $576k. This first portion of this ($350k) was accounted for in the letter of interest from CSB. Key factor was getting a lease commitment for $4000/mo, which we had in the New Chelsea Market. The second installment ($226k) would have come when we were ready to go with the livery/ apartments. We could have leveraged the completed Mack/ Daniels buildings for this additional borrowing power, or made the push to get leases signed. We already had a verbal commitment for one of the 8 apartments. Worth noting, by the 3rd year we projected positive cash flow that would allow repayment to start, and in 4th year we projected making a big dent in debt reduction. If property were not sold first, I think we would have owned it free and clear in about 8 years, though the spreadsheet doesn’t carry that far out.
o   In-kind investment (shows on spreadsheet as deferred payment) filled the balance, at about $286k. A big chunk of this was firmly but verbally committed from Scott and me on the design end, and from several contractor friends who were willing to invest a large portion of their labor, and in some cases material, in exchange for a proportionate share in the property. Conservatively, I’d say I had at least $150k accounted for already. I suspect we could have increased this component, but I think the DDA were already skeptical on our ability to make this approach work.
 Tom Girard

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