Suissevale Owned Land

Over the past couple of years we have attended several BOD meetings. At each board meeting printed financial information is provided for the attendees in handout form. These handouts provide a snapshot of the financial workings of Suissevale. On more than one occasion we have heard references made about “lots being sold” to raise funds for project expenses, as well as the potential to sell additional lots as one of the options for funding future project expenses. It appears that Suissevale owns quite a few lots, and this got us wondering why a number and estimated value of these lots is not listed as an asset on the balance sheet?

We decided that we would ask for the summarized list of these lots so we could see what types of numbers are involved after the selling (and buying at tax auction) of lots. We figured it should not be a secret since it is publicly available information that can be viewed on the Town’s website http://gis.vgsi.com/MoultonboroughNH/Search.aspx. We wanted to get a better understanding of the number of lots owned, how many are buildable versus wetlands, what taxes are being paid on them etc… In general, just gain some level of comfort that this is being managed properly. There are no nefarious intentions in requesting this information. It would be interesting to know the scope of the inventory, since at times it is being sold to fund projects & expenses. How many of the unbuilt lots remaining does POASI own? In other words, how many more houses might be built (how much more crowded can we expect Suissevale to become?) if Suissevale fell on hard times and needed to sell assets? We submitted the required written request and paperwork on 2/4/2020 and we got an acknowledgement that it was received on 02/05/2020.

As of the 02/15/2020 BOD meeting we had not heard back on the status of our request. During the meeting I asked for an update on my request, and when I might be receiving the materials. I was first asked why I wanted to see this information since my request forms listed “curiosity”. I said I felt that this was important information and that I wanted to see how the information was managed, organized and classified (buildable/non-buildable, wet lands etc…). I was then told that we would have to go online to the town to get this information because the BOD has not had the time to create and maintain such a list, but it did seem like a good idea. I thought that this was odd since details on assests owned by a corporation (land inventory) are pretty important, especially if they are being bought and sold, and being relied on for a rainy day fund. I can understand why documentation like this would not be handed out freely, and it would be reasonable to just look at the documentation provided so our minds can be put at ease that these resources are being inventoried, cataloged and managed properly. I get the sense that the BOD was less than thrilled by my request and ensuing discussion on this topic.

The preliminary February meeting minutes were posted on the Suissevale Website, and the extracted notes on my question were not entirely accurate:

“Question: Jim Graham – On February 5, 2020 I submitted a document requesting for a list of values of all of the Suissevale owned property. How is this information stored, unbuildable or buildable lots?

Answer: Suissevale owned individual lots have not been appraised and are kept as green space. The information is public record if you wanted to research it at Town Hall.”

One of the answers provided at the meeting was “There is no list, we have not had the time to make one.” I also do not recall any mention of “kept as green space”, because I would have been thrilled to hear that, and it would have stood out and stuck in my mind.

To some of you this may seem like nit picking, but as members we are entitled to a certain level of openness and transparency. Unfortunately, we feel this is another example where it is lacking.

Editor's Note: The BOD recently posted a list of POASI owned properties on the Suissevale website. They are valued at $1.7 million in 2019. You can find the list here.

Kind Regards,

Jim & Cathy Graham