Island voters will be asked to approve a $4.75 million tax override that would allow the town to acquire the NRTA bus station property – sometimes known as the Greenhound building – from Wendy and Eric Schmidt’s ReMain Nantucket.
The acquisition of 10 and 12 Washington Street would be used for transportation related purposes, town manager Libby Gibson told the Current. The $4.75 million price tag, which would have to be approved by voters at Town Meeting and at the polls, was recently negotiated with ReMain Nantucket.
Select Board member Dawn Hill Holdgate said back in July that ReMain had essentially offered the property to the town to purchase, and that it had always been part of the organization’s plan.
ReMain purchased the property, which used to be the location of the former Island Spirits liquor store, for $3.5 million back in 2007 and subsequently leased it to the town for $1 per year for use as the transit hub.
