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Board forms ad hoc committee to market terminated properties; appraisal to be circulated
Summary
After termination of an option on several properties, the HCDPA board created an ad hoc Property Disposition committee to evaluate and market remaining parcels, review code/buildability, and recommend whether to use a broker or RFP process.
The Hudson Community Development and Public Agency (HCDPA) board formed an ad hoc Property Disposition committee on April 25 to evaluate and sell remaining properties whose prior option agreements were terminated.
Board member Dominic said the agency needs to “move quickly” to put remaining properties on the market after the audit disclosed a contingent liability tied to the option agreement. The board discussed past attempts to sell parcels by auction and agreed a broker or an RFP process to hire a real estate agent may be more effective.
The ad hoc committee’s stated next steps include: recirculating a 2021 appraisal for the remaining parcels, determining current buildability and zoning restrictions, deciding whether to retain a broker via an RFP or select through procurement, and preparing property information for public marketing. Board members asked that committee meetings be publicly posted and minutes maintained.
Membership: Commissioner Smith agreed to chair the committee; board member Joyner and Dominic (board member) were listed as committee members. Board and staff discussed including a nonvoting outside advisor for real-estate interviews.
Other operational items raised: one small lot on Columbia appears to be used for parking by a neighboring property; the board directed the committee to identify that parcel, post a no-trespassing notice and, if necessary, have the vehicle(s) removed before marketing. Staff said they will also circulate the 2021 appraisal so committee members have baseline values ahead of interviews with potential brokers.
Ending: The committee will meet as needed, post meetings publicly, and aim to return a recommendation to the full board on broker procurement and disposition strategy at a future meeting.
