WATERVILLE - Negotiations to sell the former C.F. Hathaway Co. building to an Arizona developer have collapsed, and the focus of efforts to revive shirtmaking has shifted to Dexter.
The developer, Michael Peloquin, rejected the city of Waterville's offer to sell the mill for $950,000 cash. "It's a ridiculous final proposal," Peloquin said. "If that's (the) final proposal, God be it. We'll go to Dexter." Peloquin said he plans to buy a former Dexter Shoe Co. building for $159,000 and move the Hathaway shirtmaking equipment to Dexter.
Dexter Town Manager Bob Simpson said Thursday he has had one conversation with Peloquin about a possible sale of the building. "We would certainly do anything we could to help facilitate any move to Dexter that would bring jobs here," he said. "We're going to create jobs here."
Peloquin's first offer last November was $1.3 million for the Hathaway building on Water Street in Waterville. The city lowered the price to $950,000 after an appraisal. This week, Peloquin, principal owner of Atlantic Partners, offered $750,000 cash for the building.
Another recent offer was $750,000 cash plus an additional $200,000 to be financed over a period of five years with 2 percent interest.
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