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City building could be sold at auction

Mar 07, 2019 12:30 pm
Amanda Purcell is reporting for Columbia-Greene Media the former Hudson Police Department building, located in the 400 block of Warren Street, may be headed to the auction block. No offers to purchase the building were received after a recent call for sealed bids. “The Board of Estimate and Apportionment needs to meet as soon as possible to consider an auction instead of sealed bids, and to reconsider the restrictions imposed on the bidder,” Common Council President Thomas DePietro said Mar. 6. DePietro, along with Mayor Rick Rector and city Treasurer Heather Campbell, make up the Board of Estimate and Apportionment. “We will need to regroup and review all possibilities as the city would like to sell the property,” Rector said. The building was offered up for sale in a sealed-bid process, with the minimum bid set at $300,000. Under the restrictions imposed, the buyer would be required to develop or sell the property within two years of purchase or risk a fine of $100,000. Residential tenants would be permitted above the first floor, which would have to be used for legal commercial purposes. The BEA will now determine of those requirements are too restrictive. The property measures more than 4,500 square feet and includes a one-story brick and concrete structure with an underground parking garage. The property's 2018 assessed value was $550,000, according to Columbia County property records. NOTE: Tom DePietro is an active WGXC on-air host.Read the full story at HudsonValley360 [dot] com.
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