The town of Boothbay is looking to recoup money on two 2008 property purchases.

The selectmen voted, 4-0, to seek sealed bids on two town-owned properties.

In 2008, the town purchased a half acre lot that housed a former veterinarian clinic and a nearby vacant .75 acre lot.

The town purchased the properties in hopes of building a new post office on the combined 1.5 acre lot. But those plans never proceeded past the discussion phase. This resulted in the town being stuck with the two properties for the past seven years.

Both lots are located near the Boothbay Region Ambulance Service and Leighton & Associates. The town purchased the former animal hospital property for $270,000. The town removed the building, which put the property investment around $300,000, according to town officials. The half acre lot wasn’t big enough for a post office, so the town spent $20,000 for the adjacent lot.

The town now wants to package the two properties as a single lot. The selectmen voted on Aug. 12  to seek sealed bids with an minimum $250,000 offer and the right to refuse all offers.

Town officials believe the property is a prime location for the right buyer. The combined lots are located near the center of town with access to municipal water and sewer.

But the selectmen aren’t optimistic about recovering their full investment. They believe it will be difficult to recoup their full investment without the building.

“I’m ready to part with it,” said Selectman Dale Harmon. “For seven years I’ve heard what a mistake it was to purchase those properties. So we should at least try to get back what we got in it.”

In other action, the selectmen approved a $1,000 Ulmer Fund request for Victoria Morin. She is a Boothbay Region High School sophomore who requested a scholarship for a class trip. Morin is traveling with other BRHS students to France next April. She requested $2,000. According to town officials, the class trip costs $5,000 per person.

All four selectmen present agreed to provide Morin with a $1,000 scholarship.

“We’ve never approved a request for that much money. I think the most we’ve ever given is $1,200. I think we ought to cap it a grand,” said Selectman Steve Lewis.

The selectmen may cap future Ulmer Fund requests. The board is still looking at creating specific guidelines for requests and making further changes to the scholarship application.

Morin’s request was the first Ulmer Fund granted since the selectmen placed a moratorium last spring on scholarship requests. The selectmen directed Town Manager Dan Bryer to modify the application. They want an application showing showing the requested amount, the program’s cost, and the student’s fundraising activities.

The Ulmer Fund has around $22,000 available for programs designed to enhance a Boothbay high school student’s education. With two student European trips scheduled for next April, the selectmen became concerned about depleting the fund. The board placed a moratorium last May on requests to revamp the application form. The selectmen wanted one with more information about the student’s family’s financial status and about the activity.

The fund was established with a $50,000 endowment upon Madelyn Ulmer’s death. The only restrictions placed were that the funds be used for a resident’s high school education and not to spend the fund’s principle.

Since its inception in 1994, the selectmen typically receive one request per year. In recent years, the town has received more requests. If the fund drops to $50,000, it will earn about $750 per year, according to town officials.

“As more kids utilize this, it won’t take long before we get to that level,” said Selectman Stephen Ham.

The selectmen will meet next at 7 p.m. on Wednesday, Aug. 26 in the municipal building.