MIDDLEBORO — The town has entered into a no-cost license agreement that allows the parking lot at 13 School St. in Middleboro Center to be leased to the town for at least 60 days while Middleboro negotiates to purchase the site, Town Manager James McGrail said.

The license agreement, similar to a lease, would remain in effect pending a possible purchase of the property, McGrail said. That purchase would then have to be approved by Town Meeting voters in the spring. 

Negotiations for a purchase price are ongoing, McGrail said, but in the interim the town will take on the cost of plowing and insurance on the site. The Select Board wants the town to own the lot, he said.

If a price is agreed upon within the 60-day period, the hope is that the purchase and sales agreement would allow the town to use the lot until Town Meeting voters can make a final decision, McGrail said. If no agreement is reached within that time frame, McGrail hopes that the license agreement, similar to a lease, will be extended until a price can be reached.

Negotiations for a purchase price are ongoing, McGrail said, but in the interim the town will take on the cost of plowing and insurance on the site. The Select Board wants the town to own the lot, he said.

If purchased by the town, the lot would serve as public parking in an area that has limited on-street parking and numerous nearby businesses.

The lot would be a “huge asset to the town and to the businesses,’’ McGrail said. 

He encouraged the public to look at the purchase as a “big picture’’ investment that would be a “critical component’’ to the town center.

“This allows our businesses to be successful,’’ he said.

The town previously had a long-term license agreement of the lot. That agreement expired Nov. 30.