WELLS — The town is now ironing out the details to take ownership of two parcels of conservation land, and final approval is sought.

In a workshop Tuesday, selectmen reviewed a conservation agreement and heard from Tin Smith, board member of the Great Works Regional Land Trust, about the contents of the document.

The parcel, known as the Granite State land, is close to 300 acres, and is habitat for the endangered New England cottontail rabbit and the endangered spotted turtle. Granite State Gas purchased the property about a decade ago for a natural gas liquefaction plant, which never came to fruition. In recent years, the owner put the parcel up for sale.

The purchase price for the property is $495,000, with $200,000 to come from the town’s land bank, with the remainder raised through grants and private donations by the Great Works Regional Land Trust.

Voters in Wells approved up to $450,000 for the Granite State parcel and another, known as the Tilton parcel, at Town Meeting in June 2010.

Despite voter approval for the funds, however, Selectman Chris Chase said he objected to the purchase and particularly the handful of acres located in the Town of North Berwick. Selectmen discussed asking the town for a waiver on taxes due to the land being preserved for conservation and open to the public for low-impact recreation, but Chase said the town shouldn’t purchase it at all.

“I have an issue with that,” Chase said.

Selectman Bob Foley suggested the town gift those acres ”“ approximately five ”“ to the Great Works Regional Land Trust after they purchase it. Smith said he believes the trust would accept the gift.

A public hearing will be held on Dec. 20 to allow residents a chance to comment on both purchases. At the end of the hearing, selectmen will take a vote on whether or not to move forward with closing on the properties.

The Tilton parcel, although close to closing as well, has had some complications. After an official survey, the parcel was found to be 103 acres instead of 130 as previously thought, according to Wells Conservation Commission member Keith Fletcher.

Fletcher said the price was dropped to $465,000, but it has since been appraised at $365,000. He said the town could try to re-negotiate, but he’s not sure if the owners would offer a lower price. The town has committed to paying $250,000 for this parcel from the land bank.

The Tilton parcel stretches along Bragdon Road and has more than 50 feet of frontage on the Merriland River. It has high-value wetlands and is home to many species of wildlife including moose, bears, mink and turtles. The parcel also connects with the Great Works conservation land.

Both purchases are expected to be wrapped up by the end of the year.

— City Editor Robyn Burnham can be contacted at 282-1535, Ext. 329 or rburnham@journaltribune.com.