PMH assists philanthropic client to benefit the Town of Windham

When the Portland Water District decided to sell a 123 acre tract of land in Windham, Martin Lippman saw an opportunity to help the Town acquire the property for use as a park. Mr. Lippman proposed a gift to the Town to enable the purchase of the land with two stipulations; that the park be named after his wife Donnabeth Lippman and that the development rights associated with ten of the 123 acres be reserved to Mr. Lippman to enhance the development potential of some adjacent land on Route 302. As a long-standing client of the firm, Mr. Lippman came to Petruccelli Martin & Haddow, LLP for assistance in negotiating and documenting the transaction and we were happy to help. Bruce McGlauflin is working with Mr. Lippman and the Town to prepare the necessary deeds that will impose restrictive covenants on the 123 acre tract limiting its use to park-related activities and a conservation easement restricting the 10 acre parcel to recreational uses while reserving to Mr. Lippman certain development rights for the benefit of his adjacent land.åÊ Please follow this link to read an article about the project that appeared recently in the Lake Region Weekly.