The Town of Norwood Finance Commission voted unanimously Oct. 30 to recommend the purchase of the parcel described in warrant Article 7 as an open‑space acquisition, with the funding source to be determined later.

The recommendation covers the Article 7 purchase as presented on the pink sheet: staff identified proposed funding as proceeds from the Forbes Estate (about $6,176,000) plus approximately $1,077,848 in certified free cash, for a combined total of $7,253,848. Commissioners asked staff to return with firm appraisal and borrowing scenarios before the town meeting to allow public discussion of alternatives.

Town Manager Tony Mazzuco told the commission the town intends to hold the parcel as open space and to preserve future options for trails, a trailhead, parking, or modest complementary uses such as a nature‑center or restroom facilities. “The purpose is open space,” Mazzuco said during discussion; staff emphasized there is no immediate plan for major development and that the parcel connects to larger town‑owned and airport‑adjacent open areas.

Commissioners pressed staff on several financial and operational points: the existence and timing of appraisals, the agreed purchase price, short‑term maintenance costs if existing tenants remain, and whether the town should pay cash or borrow for a long‑lived asset. Staff reported an appraisal for this parcel came in close to the purchase price and that the seller, a trust, has been cooperative; closing could occur within about 30 days after town meeting if the sale proceeds. Several commissioners urged considering long‑term borrowing for land acquisitions and preserving free cash for shorter‑term items such as sidewalks or building repairs.

Officials also discussed immediate operational matters: the purchase excludes a nearby house where a family matriarch is expected to remain in place; other houses on adjacent parcels could be rented at market rates short term to offset maintenance or eventually removed if they do not fit a long‑term plan. Staff said maintenance costs would be “de minimis” if the houses are vacated in the short term but that heating, utilities and minimal upkeep would be required and should be accounted for in future budgets.

Commissioners requested that staff provide a short debt‑service comparison—borrowing the land over a longer term versus using free cash and financing other capital projects—so FinCom and the public can compare year‑by‑year operating impacts. The commission scheduled a remote meeting Nov. 4 to review final appraisals and updated debt and operating estimates ahead of the special town meeting.

The motion to recommend Article 7 passed by voice vote with all present commissioners in favor.