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Village makes offer on former Sunmount office

Thursday, October 25, 2012 - Updated: 1:45 PM

By CRISTINE MEIXNER

Editor

SPECULATOR – The Village of Speculator has offered to buy the office building at 2875 State Route 8 for $195,000.

The Board of Trustees voted to make the offer after touring the building Monday, Oct. 22. The property was listed for sale with CMK & Associates Real Estate Oct. 16 for $250,000. It is assessed at $217,400.

A special meeting was held Oct. 25 on negotiations for the property.

The 2,500 square-foot, handicapped-accessible building was built in 1987. Colvin Ryan of Northville owns it. Sunmount DDSO rented the space until recently.

Trustee Robert “Shorty” Hoffman voted against making an offer. “Everyone is always looking for business property in the village and I can’t see the village taking it when a business might want it,” he said.

He also pointed out it would take another property off the tax rolls, as would the proposed purchase of the Skaret property to add to the village park; and said Lyme Timber Company is fighting to lower its assessments in the village.

“We don’t blink an eye when highway comes in here and wants new equipment or a new fire truck is needed,” Mayor Letty Rudes said. “Don’t you think village residents deserve a nice looking building? This [village hall] is one of the worst looking buildings in the village.”

Trustee Karen McComb said the options for Village Hall are to paint it every few years; put on vinyl siding, which has been deemed too expensive; or put on Adirondack siding.

“It would affect the building from a historical perspective,” she said. “Perhaps if we move into another building someone will buy [village hall] and restore it; if not it will eventually end up a vacant lot.”

“You can paint a lot for a quarter of a million dollars,” Hoffman said. “We can’t keep taking properties off the tax rolls.”

FINANCING

Turning the discussion to financing, Rudes said, “We have a fund balance and can well afford to put a down payment on that property. The fire truck is paid for and that money could be put toward the loan.

“I don’t think the Skaret property is going anywhere. If it were going to happen it would have happened by now.”

McComb said there is a potential for rental income at the Ryan property. “There is another entrance in the rear with quite a bit of parking area,” she said. “The potential exists for rental space; that would make up for the lost taxes.”

Rudes said Village Hall would also have rental potential, and if rented to a for-profit entity it would go on the tax rolls. It could also be sold.

The village’s offer on the Ryan property is contingent on it passing a building inspection.

     

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