Answer to my question?

There was a meeting on Monday regarding Southgate Place, at the former site of City Builders. I asked if the EPA grant that was given to the South Worcester Neighborhood Improvement Center (SWNIC), that does not have to be paid back since they are a non profit, would it have to be repaid if SWNIC were to sell the property as planned to City Builders LLC, a for profit entity.

Here is the answer I received today in writing from SWNIC, here is a portion of the response:


To respond to your question, the South Worcester Neighborhood Center is the owner of the Site and must hold title to the property during the site cleanup. As a condition of receiving the grant, SWNIC is committed to holding the property until the cleanup is completed. After the cleanup is completed, SWNIC can sell or transfer title to the property.

I hope this answers your questions.


Jahn help me, does this answer my question? Bottom line is that they feel that they can do whatever they want with the property, including selling it, without any ramifications. If this is true then I suggest that every non-profit:

1. Should buy contaminated parcels on the cheap
   
2. Apply for EPA monies
3. Clean up the parcel
4. Sell the parcel

For example they buy a $10,000 parcel and clean it up with a $100,000 grant from the EPA then turn around and sell it for $60,000--they pocket $50,000.