continued If no acceptable bids are received by the board, the trustees reserve the right to modify the terms of the sale to accept a satisfactory bid. If there are no bids at all, the trustees will hire a marketing firm to better advertise the property for another sale attempt.
“We want to do the best we can for our taxpayers,” Hubbard said.
A number of local realty companies sent representatives to attend the operations meeting, including Finger Lakes Realty Partners, Exit Realty, Hunt Realty and Williams Realty. Village Clerk Patty Couch sent emails to about 12 local realty companies informing them of the sale and inviting them to the meeting.
All interested realtors were given packets of information that included all necessary property information, such as the abstract of property title, survey and tax maps of the property, copy of the property ownership deed, the draft deed by which the village would convey the property to a successful bidder and a title insurance commitment reflecting the willingness of a title insurance company to issue a policy of title insurance to a successful bidder, if requested.
The trustees also recently approved the undertaking of a Phase 1 environmental study of village hall to assess the existence of any environmental hazards in the building, which will be completed by Feb. 24. The study is a standard provision in any sale of a community property, and is not expected to find any environmental hazards on the property given the building’s history, said Village Attorney Michael J. Byrne.
Byrne investigated the building title back to 1888. From that year until 1929, 46 E. Genesee St. was a bank; from 1929 until the present day, it has been a municipal building. The building has had only three owners.
“You guys did a great job covering all this, this makes it much easier,” said Jerry Morrissey, broker and managing partner of Finger Lakes Realty Partners.