January 20, 2011
The proposition presented to the electors for a yes or no was as follows:
Shall the action of the Schodack Town Board, by resolution number 2010-327, adopted October 14, 2010, authorizing the Town to enter into an option agreement with David Bryce for the sale of the former Town Hall property, located at the intersection of routes 9&20 and Route 150 for $300,000.00 be approved?
Yes - 293
No - 276
Your Vote Counts
January 20, 2011, 1 p.m. to 8 p.m.
Sale of the old Town Hall Property
Whether or not to sell the old Town Hall property at the intersection of routes 9&20 and Route 150 will be determined by a vote of the residents of the Town of Schodack.
In question is the sale of the property to David Bryce, as is, for the amount of $300,000 as a vacant lot.
Following the resolution passed by the Town Board, a petition was submitted on November 13 calling for a vote. If voters determine the property not be sold, the lot and building would be placed back on the market.
The corner lot has been for sale since 2006 when it was appraised at between $300,000 and $450,000. The original asking price was a hefty 1.2 million. There were no offers on the property, due in part to the fact that there is no access from Route 9. Mr. Bryce contacted the town indicating his interest in purchasing the lot as vacant property. His plan, according to Schodack Supervisor, Dennis Dowds, is to erect a 10,000 square foot office building and place the property back on the tax rolls.
Mr. Bryce would be responsible for the asbestos abatement and demolition of the existing building. According to the agreement, Mr. Bryce would be allowed six months to decide definitively if he plans to go through with the sale. During that time the town would receive $1,000 a month for the first three months and $1,500 a month for the next three months. The option having started on November 1, 2010 will expire on March 31, 2011. If after that time it is decided that the purchase will not be completed, the town will be allowed to keep the $7,500 and put the property back on the market. If the sale goes through the property would be sold for the full $300,000 without the town incurring the standard 10% sellers fees.
"At this point the sale is in the best interest of the town," said Mr. Dowds. "We would be relieved of an eyesore and funds from the transaction would be used to help reduce the town's debt."
In a mailing being sent to residents the Supervisor states the following:
YOUR VOTE COUNTS
WHEN:
January 20, 2011, 1 p.m. to 8 p.m.
WHERE:
Schodack Town Hall, 265 Schuurman Road
WHY:
Permissive Referendum relating to authorizing the sale of old Schodack Town Hall Property on 2.1 acres located at the intersection of Routes 9&20 and Route 150.
DETAILS:
Selling price of $300,000.00, with NO selling commission or building removal fees incurred by Schodack taxpayers. Proceeds will be used to reduce debt payments on existing Schodack Town Hall.
Turn out to vote on January 20, 2011
The proposition presented to the electors for a yes or no vote shall be as follows:
Shall the action of the Schodack Town Board, by resolution number 2010-327, adopted October 14, 2010, authorizing the Town to enter into an option agreement with David Bryce for the sale of the former Town Hall property, located at the intersection of routes 9&20 and Route 150 for $300,000.00 be approved?
Yes_____________ NO_____________
Ken Stokem and other members of the SPDA have concerns about the sale and the details not being conveyed to the public.
"It is clear to us that there is an absence of public information that could assist voters in making an informed choice to sell in this way at this price or not. Voters are not being given other possibilities for comparison to the Bryce offer," Stokem told the SCENE.
"I suggest that information should be disseminated to voters about how the Town Hall might be auctioned. If auctioned, could it start with a minimum bid such as the current Bryce option price of $300,000?
According to Stokem, Joe Vissali noted that the Bryce sales option does not preclude them from selling the old Town Hall to a non-profit. Thereby not necessarily add that property to the town tax rolls.
"It was originally touted that the old Town Hall could be sold for $1.2 million that would substantially offset the $1.4 million purchase price of the former SEFCU building that became the current Town Hall along with an additional expenditure of $600,000 spent moving into and improvements to the SEFCU building to make it replace the old Town Hall." he said in an email to the SCENE.
2 Years to a Million in Real Estate
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