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HDC land sale to remain private until complete

Jan 29, 2021 5:30 am

Aliya Schneider is reporting for Columbia-Greene Media proposals submitted by prospective investors for the 4.56-acre property formerly owned by Kaz and CSX in the city of Hudson will not be made public, Hudson Development Corporation President Robert Rasner has announced. When the property is purchased, he said, the public will then learn about the deal. The property consists of one 3.7-acre parcel at 14-18 Montgomery Street in the city's 1st Ward, as well as the adjoining 0.86-acre parcel at 72 S. Front Street. The public will not be able to comment to their government officials before the sale is finalized. Rasner takes the position that negotiations should be confidential and the public can learn information when the new owners bring their proposal to the planning board and the zoning board of appeals, if appropriate. “That is the perfect venue for the public to discuss how they see these opportunities,” he said. “Until then I have to respect the confidentiality of any real-estate transaction.” Negotiating the sale of the property in public would be unethical, Rasner said, and he does not want competing bids and ideas to impact investors' proposals. Neither does he want the sale to become a process that will result in the property sitting vacant for many more years. Of the five potential developers, one is local, two are from out of the area but within New York state, and two are out-of-state American firms with international investments, Rasner said. He remains mum on proposal specifics. “I think we’re going to get people with very diverse ideas here and I think that is the healthiest possible thing,” he said of the potential buyers. The board previously sought “competitive bids,” but this time around are seeking “negotiated sales.” Bids of less than $2 million will not be accepted, Rasner said. The corporation board wants the property back on the tax rolls as soon as possible, HDC Executive Director Branda Maholtz said. The three primary considerations for the board will be getting the highest possible price for the property, aligning with the HDC’s purpose and delivering the highest possible use for Hudson and its citizens, Rasner said. Read the full story at HudsonValley360 [dot] com.

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