While no formal sales agreement has transacted as of press time, Verdi Construction Company LLC has filed a letter of intent with the town for the possible purchase of 3 Main Street, the former Town Hall South and police headquarters building.

The Board of Selectmen approved putting the building up for sale in August 2021, and most recently voted to accept the letter of intent at its March 20 meeting following an executive session.

First Selectman Dan Rosenthal said that the letter of intent gives Verdi Construction “some time and assurance” on the property until the agreement is up on May 15, while it reviews the site and talks with the Borough of Newtown’s zoning officials to “take a deeper dive,” noted in the letter of intent as a “due diligence period.”

The town has not been marketing the property actively, but part of the agreement in the letter requests the town not market the property and not entertain other offers until the letter of intent expires. The property is in both the Borough and the town’s Historic District. The letter of intent was accompanied by a $100 retainer on the property.

“Their goal is to do more review, and if it all checks out, they’ll move on to the next stage and make an offer. If they can put something together, it would be terrific,” said Rosenthal. “It would be mutually beneficial.”

According to the letter of intent, Verdi will “conduct ... physical tests and/or inspections of the property as are deemed appropriate by Verdi, including, inter alia, structural, mechanical and electrical, water and sewerage disposal, non-invasive environmental and pest inspections, and soil and groundwater tests and inspections. Such tests and/or inspections shall be conducted during normal business hours unless a different time is specifically required by any such test or inspection.”

If Verdi decides to move forward, it will submit a written offer of purchase to the town.

When the building was put on sale, the motion said the property would likely be deed restricted, would limit any construction to the footprint of the current building, and that structure would either be commercial or a single family home.

Rosenthal would not comment on the exact use of the building, but said the plan as it’s been presented to him would use the current building “with some improvements.”

“So far I like what I see, this won’t be anathema to the Borough,” said Rosenthal. “That’s been the objective all along.”

Rosenthal said that since Verdi was a local business, this could be a “good thing if it works out.”

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Associate Editor Jim Taylor can be reached at jim@thebee.com.