Stonington — The Board of Selectmen on Wednesday unveiled a proposed agreement between the town and the Friends of Stonington Crew about the future development and operation of the Mystic River Boathouse Park.

Residents voted in September to spend $2.2 million to buy a 1.5-acre site just north of Mystic Seaport and create a park with the understanding that the Friends would pay to erect a boathouse there for the Stonington High School crew team.

The memorandum of understanding being considered states that it is intent of the Friends group to raise all the money needed to design and build the boathouse, docks and associated rowing structures on the property and that the facility will serve as a community rowing center for the town.

It states that the ground floor of the building will have separate boat bays for the high school team and the community and a common area on the second floor for workout facilities and restrooms.

The memorandum states that the Friends group will provide a detailed plan of the structure and a list of site requirements to the town by March 1, 2017. The group also will pledge to raise all the funds needed to design and build the structure and will maintain it. The group will further submit a business plan and a description of the full scope of operations to the town by July 1, 2017.

In exchange, the town will give the Friends a low-cost lease once the boathouse is complete, with the right to become its sole operating agent for no less than 25 years. The town also will outline what services it will perform on the property once the boathouse is complete.

The Board of Selectmen agreed Wednesday to send the agreement to the town attorney for review.

The town, which plans to close on the property next month, will need to submit a plan for the park to the Planning and Zoning Commission for approval. It then will have to demolish existing buildings on the site, cap coal slag contamination and landscape the property.

j.wojtas@theday.com