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Rejection of Renzullo offer unsurprising

Selectman Michael Renzullo’s plan to purchase a town-issued tax lien on the old Capitol Products Building took a blow this week when his colleagues on the Board of Selectmen voted to reject his offer of $25,000 to settle $84,203 in back taxes owed on the property. Though the decision is disappointing for supporters of development in town, it is not surprising, as there always seemed to be something missing from Renzullo’s proposal.It turns out that the biggest missing link is an essential component of any successful transaction — money. While Renzullo has been extremely enthusiastic about his nonprofit organization, Laurel City Revamp, and its plans for renovations at 35 Willow St., he has not been clear enough about where he will get the money to support construction and environmental remediation costs. Without significant backing from a bank or financier, the entire project remains in the conceptual stage, and members of the Board of Selectmen are right to ask Renzullo tough questions about it.Renzullo contends that the Board of Selectmen’s 4-2 vote against his proposal (in which he appropriately recused himself) is “100 percent political,” but the decision seems to have been made to protect the selectman from getting in over his head on a project that hasn’t been fully planned out. It is still not known what government loans are available for environmental remediation at the building or what specific renovations will be done and how long they will take to complete.Choosing to start Laurel City Revamp as a sitting selectman was also an odd move for Renzullo, who has to take himself out of key discussions regarding the project while also attempting to lobby for support of the deal. That interpersonal dynamic doesn’t make much sense, and it would be more appropriate for someone to bring the plan to the board as a private citizen — either by resigning or waiting until the end of the current term.Calling the Board of Selectmen’s decision purely political isn’t going to help Renzullo’s cause, as this only serves to underscore the appearance of bad judgment. Laurel City Revamp is barely off the ground and its leader is already alienating town officials by throwing accusations at them. It’s difficult to imagine success evolving out of this scenario.

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Provided

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