Questions still remain as to the ownership of the Parker Mills Pond Dam, but voters have brought it one step closer to being repaired.

After a lengthy discussion involving town officials and residents at Town Meeting Monday evening, voters approved the acceptance of $165,000 in previously approved state funding and an $835,000, two percent interest loan to repair the dam from the state to the town’s Community Preservation Committee. Repairs, which are estimated at $1.2 million, would include the Elm St. bridge that crosses the dam, which was recently closed due to a need for repair.

The dam, which is near the Tremont Nail Factory, is classified as a High Hazard Potential (Class 1) by the Office of Dam Safety at the Department of Conservation and Recreation, meaning that loss of life or major structural damage could occur if it failed.

An August 2014 report said the dam “faces a multitude of repairs in order to maintain public safety” and that an inspection showed “unstable upstream wall sections, sinkholes and leakage . . . and deterioration of concrete,” as just some of the problems, according to the Executive Office of Energy and Environmental Affairs.

Selectman Peter Teitelbaum argued against the suggestion of a further study as to who owns the land and the percentage each would pay for the project, saying the town would likely lose the $165,000 grant if its voters went against accepting it and the bond request.

“If we want to have access to this money—not just the $835,000 but also the $165,000—we need to vote it in now and get our application in,” said Teitelbaum. “It’s important not to spurn that money. Next time we ask for money, they’re gonna laugh at us.”

Officials from the Board of Selectmen said they thoroughly researched the ownership of the dam/bridge, with Chair Alan Slavin saying the dam belonged to both the town and the A.D. Makepeace Company, with Elm St. being a county road. Selectman voted 5-0-0 for favorable action on the vote, with the Finance Committee voting 6-1-0 in favor.

“The state will not let us slide on this particular issue,” said Slavin.

Teitelbaum said there would be no time limit on spending, adding that out of hundreds of applicants for the Grant, only 15 were chosen.

Several voters expressed concerns over the safety of those homes and businesses nearby, including a the Little People’s College daycare.

Town Attorney Richard Bowen did say there was a difference in opinion between the town and A.D. Makepeace as to the who owned what percentage of the dam, but that it would behoove the town to take action regardless.

“It’s simply to get our foot on the ladder for state money and nothing more,” said Bowen.

He also said the town could be liable for any damage or loss of life if the dam were to fail.

The motion to accept the grant and borrow the funds were approved by a two-thirds, non-counted vote.

In other Community Preservation Committee related measures, voters approved Among the projects, voters approved $98,000 for the restoration of the Old Methodist Meeting House at 495 Main St. and $70,000 to create an additional housing unit at in Agawam Village through the Wareham Housing Authority.

A vote to appropriate $114,543 for the restoration of the American Legion Hall Post 220 still remains for the second night of Town Meeting, which will resume Tuesday evening at 7 p.m. at the Wareham High School Auditorium.

Community preservation funds come from a three percent surcharge levied on residential property above the first $100,000 of assessed property, with the state partially matching the locally raised funds. That money must be used for historic preservation, affordable housing, or the preservation of open or recreation facilities.