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Putnam County committee ratifies purchase of 110-acre Southeast parcel after auction brings $465,000 winning bid
Summary
The Audit and Administration Committee voted to forward ratification of a 110-acre county purchase in the Town of Southeast, noting multiple bidders drove the final sale to $465,000 — well above the appraised value presented to the committee.
Putnam County’s Audit and Administration Committee on Oct. 28 moved to ratify the county’s purchase of a 110-acre property in the Town of Southeast after a competitive auction yielded a winning bid of $465,000.
Committee discussion noted there were multiple bidders and a bidding war that drove the final price above the appraised figure earlier presented. Chair (Speaker 2) said the auction approach and the higher-than-appraised sale price reduced commission costs and produced a better outcome for taxpayers.
Committee members asked whether the winning bidder would be identified publicly; staff said that information was being redacted for the item but would be available later. The motion to forward ratification to the full legislature passed with recorded 'Aye' votes.
What’s next: the ratification will appear on the full Putnam County Legislature agenda for final approval and any redaction or public-record questions will be addressed in materials supplied to the full body.
