Wakefield Council gets an updated plan for purchase of Lakeshore Truck and Equipment site.

WAKEFIELD — The Wakefield city council received an update on the plan for the city to purchase the former Lakeshore Truck & Equipment property in the industrial park to replace the old trio of buildings now in us. City manager Robert Brown summed things up succinctly: “They’re older buildings. They have outlived their useful life.” Brown said the city will offer tours of the old buildings April 14 and 15 from 5 to 6 p.m. and April 21-22 from 5:30 to 6:30 each evening. The public also will have a chance to compare, as Lakeshore owner Dan Maki said he will make his buildings available for inspection at those times. The point-by-point presentation by the city manager included photos of the century-old and older structures the city now uses. They have no adequate ventilation, lighting is poor, they don’t meet current building codes and they are small. The newer buildings are in an industrial zone, on level parcels (a plat of 8.44 acres) and include 11,100 square feet of floor space, enough to accommodate the city’s fleet of equipment. There will be space to wash and service equipment, as well. The city has entered a purchase agreement with Maki for $400,000, less than the $420,000 appraised value and $220,000 less than an earlier appraisal of the properties. Brown said the plans to borrow $440,000 at a projected rate of 2.125 percent via Rural Development. Repayment will be made at the rate of $20,000 annually over 30 years. More detail and comment in this weeks Wakefield News / Bessemer Pick and Axe.