East Lyme — The town will move forward on a plan to purchase the Samuel Smith House, a 17th century farmhouse on Plants Dam Road, for a price of $425,000 negotiated with the property owners.

First Selectman Paul Formica announced at Wednesday's Board of Selectmen meeting that he had been authorized to determine a purchasing price for the property.

"After negotiations with the owners, the Hubers, we have come to an agreement on a price of $425,000 to purchase this property," he said at the meeting.

The Board of Selectmen had held a closed-door session Wednesday prior to discussing the possible purchase of the Samuel Smith Housein in open session.

Formica said the next step is to have the town attorney draft an option, with contingencies for potential grants and other legal options. Once the option has been drawn up it will return to the Board of Selectmen, the Board of Finance, and then the public.

The Board of Selectmen voted 5 to 1 to move to create a 90-day option to purchase the property for $425,000, subject to the usual approval of boards. Rose Ann Hardy, Mark Nickerson, Rob Wilson, Formica, and Kevin Seery voted for it, while Holly Cheeseman opposed it.

The Board of Selectmen then carried a motion to have the Planning Commission begin a survey and ruling on the property.

There will be a public Information meeting on the Samuel Smith House on Sept. 19. The exact time is to be scheduled.