St. Mark’s School buying more land; offsetting lost taxes through land sale and PILOT increase

St. Mark’s School is buying a property on Main Street.

The 55 Main Street property will be used for faculty housing and green space.

Clearly the school recognizes that some residents are aggravated when land purchased by a non-profit falls off the tax rolls. Which is why the school is publicizing that they are selling another piece of land to help offset that. (72 Sears Road is on the selling block.)

Plus, they pledged an increase in PILOT donations (Payment in Lieu of Taxes).

The school also provided an update on efforts by some to get the school involved in the fate of the Burnett House. (Not good, but not really bad either.)

Here’s the news as shared by the school today:

St. Mark’s School has decided to move forward with the purchase of the property on 55 Main St. in Southborough. The immediate proximity of the 5.5 acre property to the School’s West Campus and Choate Circle represents an important opportunity to ensure that much green-space remains around our developed land. The school also plans to renovate the existing structures on the property to provide three faculty-housing units that can be easily maintained and serviced by our facilities team.

We recognize that purchasing additional property in Southborough impacts revenue for the town. We are also in the process of selling our 72 Sears Road property. This sale, along with the increase in our annual donation to the town, will substantially offset the loss of tax revenue resulting from our 55 Main St. purchase.

The School has also been engaged in ongoing conversations with residents and local officials about the status of the Burnett House. As a School we have not been able find a strategically appropriate way in which to include the Burnett House as part of our academic program. However, we are continuing the dialogue with local officials. We remain interested in playing a role in determining the fate of this historic property.

2 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Patti
7 years ago

Just wondering:
How much in Pilot $ did St. Marks pay to Southborough in 2014? How much are they proposing to pay for 2015 or 2016?
The schools have purchased a number of properties over the last few years – removing them from the revenue basis for property taxes.
What is the value of the real estate (not school buildings – just homes) owned by St. Marks (and Fay)?

Frank Crowell
7 years ago
Reply to  Patti

Well let’s see – if the BOS would allow the previous year’s PILOT for the top five educational non profits to be published in the annual town warrent, we could easily know that number. Don’t hold your breath for that to happen.

If you are looking for a large year of year increase in St Mark’s PILOT, we can all hope.

  • © 2023 MySouthborough.com — All rights reserved.