COLONIE The Town of Colonie has budgeted nearly $900,000 in revenues from the sale of real property in the 2012 tentative budget.
Supervisor Paula Mahan said the town is looking at four different properties to sell: a property on Wolf Road, the vacant highway garage, a property along Route 9 and the town’s Community Center, which is located on Central Avenue.
The Community Center has been looked at for several years as a piece of property the town does not have much use for anymore except for a portion of the building that houses the offices of the town’s Youth Bureau. Mahan said the town is currently looking to lease the building to a small business looking for some office space.
“We’re exploring one possibility of an incubator type set up where small businesses rent spaces and things like that,” Mahan said. “It depends on how much space is left but I know there is interest in keeping space for the youth center.”
The town is currently working with the Town of Colonie Industrial Development Agency to figure out the proper use for the building and to seek out tenants for the proposed space. Mahan said the property was appraised at $2.1 million when she first came into office back in 2008. She said the figure of $885,000 in the budget is really a conservative number and that if all four of the properties were sold the number would be much higher.
This figure was also budgeted in the town’s 2011 budget, but Mahan said the downturn of the economy has made it more difficult to sell the properties. She said there has been some interest in the buildings, particularly the highway garage, which Alex Kutikov of Vanguard Properties was looking into.
“At one point the buyer was quite interested and we almost sold it at the time,” Mahan said. “Then the economy dropped out.”