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Redevelopment Agency authorizes purchase of 'Paisley' property and adopts bylaws
Summary
The Syracuse Redevelopment Agency voted to authorize the mayor to execute a purchase contract for the 'Paisley' property (parcels near 2500 West and 1650 South) and adopted agency bylaws; officials said proceeds from future sales will reimburse RDA funds.
During a special Redevelopment Agency meeting called immediately after the council session, members authorized the mayor to execute a real-estate purchase contract for property identified as the "Paisley" (parcels near 2500 West and 1650 South) and adopted bylaws for the agency.
Staff said the purchase will use funds from two separate RDAs and that proceeds from any sale of property would reimburse the RDA funds used for acquisition. The mayor and councilmembers expressed optimism based on prior transactions and authorized the mayor to sign the purchase contract. The RDA also approved bylaws (RDA 26-02) to formalize agency procedures, noting the mayor is a voting member under RDA statutes.
Both actions were approved by voice vote during the special meeting. Staff noted that the property purchase is intended to support economic development activities and that further details will be provided as transactions move forward.
