By Adam Swift
The city council is expected to vote in May on approving bonding for the new Revere High School project at Wonderland.
The estimated cost of building on the Wonderland site is $522 million, which includes the $29.5 million the city has already spent to take the 30-plus acre site by eminent domain.
After accounting for the MSBA grants, the total cost of building on the Wonderland site to the city would be about $285.5 million, according to the project team for the new high school.
However, there is still outstanding litigation from the former owners of the Wonderland property seeking additional money for the property.
CBW Lending, LLC vs. City of Revere was filed in Suffolk Superior Court in early 2023.
CBW Lending, a group that includes local businessman Joe O’Donnell and Vornado Realty Trust, is being represented by attorneys Peter Flynn and Jason Scopa of the Saugus-based Law Offices of Peter Flynn, which specializes in eminent domain cases. In the past, Flynn has estimated that the true value of the Wonderland property could run anywhere from $50 million to as high as $120 million.
At Monday night’s city council meeting, Council President Anthony Cogliandro filed a motion seeking an executive session meeting with the mayor and the city solicitor to discuss the ongoing eminent domain litigation concerning the Wonderland site.
“There is nothing malicious about this motion,” said Cogliandro, who added he filed it because the council and city cannot discuss or comment on the ongoing litigation except in executive session. “I want everyone to know that this is filed so that we can have every single bit of information we can possibly have when it comes time to bonding over a half a billion dollars, and that is what this is all about.”
Cogliandro said he has spoken to Mayor Patrick Keefe about the motion and he is supportive of it.
“This is a great motion,” said Councillor-at-Large Anthony Zambuto. “It is going to be a challenge to vote this bond under all the circumstances, but without knowing what it is going to cost, I certainly can’t vote for it. I appreciate this motion, and I’m looking forward to the executive session.”
Councillor-at-Large Michelle Kelley said she was also in full support of the motion.
“I think that the sooner we can get the information, the better our decision making process will be when it comes time to bond the high school,” she said.
