By Ashley Onyon, Amsterdam Recorder (NY)
The Common Council revisited and approved a purchase option agreement for a South Side brownfield site on Tuesday.
The city tabled the pact earlier this month over concerns about the property’s value compared to the $250 purchase price if the option is exercised.
The council tabled a resolution during the April 6 meeting that would have authorized the city to enter a one-year purchase option agreement for the potential sale of 111 Erie Terrace to Mary and Michael Keegan of Schenectady. The site at one time was operated as Nathan’s Waste and Paper Stock Co.
The deal approved Tuesday lasts for six months, but it can be extended.
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Posted April 27, 2021