Politics & Government

Council Creates Connie Bean Sale Trust

City Council unanimously approve new trust for $1.5 million in proceeds from the sale of the former Connie Bean Recreation Center.

Four days after the city sold the former Connie Bean Recreation Center for $1.5 million, the City Council unanimously approved a new trust fund to hold the proceeds.

Now the new trust will have to be approved by the Rockingham County Probate Court. The trust also contains provisions outlined by the New Hampshire Attorney General's Charitable Trust Division that call for at least $20,000 of the proceeds to toward recognizing the contributions made by members of the military since it was originally constructed in 1916.

The former Connie Bean center was purchased by Steven Wilson of Hampshire Development Corp. in Exeter at a live auction held at the former recreational facility on Thursday. Wilson has not specified yet how he will redevelop the property, but his firm's web site shows that his company has experiences in commercial, industrial and residential development projects.

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