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Council weighs minimum bid, remediation costs as it prepares to re-advertise industrial lot for sale
Summary
Council discussed marketing and minimum-bid strategies for a half-acre light-industrial lot at 40 East Front Street that the borough purchased at tax sale and demolished; remediation costs of about $90,000 were cited and officials asked staff to calculate lost tax revenue and total borough investment.
Councilors discussed next steps for selling a half-acre light-industrial lot at 40 East Front Street, including whether to set a minimum bid and how to account for remediation costs. Staff said the borough purchased the property at a tax upset sale, demolished the building and has invested roughly $80,000 to date (purchase plus demolition). A remediation plan prepared earlier estimated remediation costs at…
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