News

County property transactions in Troy put on hold

0
County property transactions in Troy put on hold

A resolution authorizing a pair of property transactions in Troy, first announced by outgoing Rensselaer County Executive Kathy Jimino on Nov. 30, was tabled at a county legislative meeting Tuesday night pending further discussion.

The county planned to sell 19 Third St., the site of the county’s current Troy Area Senior Services Center, for $575,000 to local real-estate developer David Bryce, then purchase the Italian Community Center at 1450 Fifth Ave. (“a much more modern facility”) for $685,000, according to the resolution included in the meeting agenda packet. The ICC, which “has a more user friendly driving route from outside of the City of Troy,” the resolution says, would serve as the new center for senior citizens.

“Although I found authority to [proceed] without publishing any notice, the County Legislature is going to table the resolution this evening and proceed more with either publication or local law,” county attorney Stephen Pechenik told The Alt in an email Tuesday evening before the meeting.

In a brief, subsequent phone interview, Pechenik said the proposed sale to Bryce was “unusual but legal,” citing past opinions from the state comptroller and attorney general on similar types of deals. Bryce had apparently approached the county about the potential sale, the attorney said.

The Third St. building, a former Masonic Temple, was appraised at $660,000, Pechenik said in a follow-up email.

“The Legislature had some additional questions about the sale it needs to have answered before it will approve it,” county legislative liaison Matt Masterson told The Alt in an email Tuesday night.

Robert Pasinella, executive director of the Rensselaer County Industrial Development Agency, which awards tax breaks to encourage economic growth, told The Alt on Monday that he had had a preliminary discussion with Bryce about a potential incentive package related to the building, but had said that any financial assistance would depend on dollars invested and jobs created and that he’d need to see the project. The discussion did not progress beyond that, Pasinella said, and nothing has been considered by the public authority’s board.

The Alt first requested more information on the deal from deputy county executive Chris Meyer on Dec. 4, the day it was reported in the Times Union. Bryce, who, according to the Times Union, has plans for new office space at 19 Third St., did not respond to an email on Monday.

This story will be updated if we learn more about the status of the transactions. Feel free to reach out if you know more (luke@thealt.com).

Leave a Reply

Your email address will not be published. Required fields are marked *

*

More In News