RESOLUTION NO. 571
AUTHORIZING THE CONVEYANCE OF REAL PROPERTY LOCATED AT 1579 CENTRAL AVENUE (TAX MAP NO. 41.8-6-41) IN THE TOWN OF COLONIE
Introduced: 9/9/24
By Audit and Finance Committee:
WHEREAS, The County of Albany has acquired “in rem” foreclosure a parcel of real property located at 1579 Central Avenue (Tax Map No. 41.8-6-41) in the Town of Colonie, and has offered the property for bid through the sealed bid process, and
WHEREAS, The Commissioner of the Department of Management and Budget indicated the sealed bid was open for bid submissions from March 4, 2024 through April 3, 2024, and three bids were received, and
WHEREAS, Luizzi Companies LLC was the highest bidder on the parcel and has offered $560,000 in order to acquire the property, and
WHEREAS, Luizzi Companies LLC has requested that the parcel of real property be conveyed to their newly formed LLC, LSDG LLC, and
WHEREAS, Resolution No. 29 for 2019, the Albany County Real Property Disposition Plan, authorizes the conveyance of parcels of real property to individuals or entities for economic development purposes, now, therefore, be it
RESOLVED, By the Albany County Legislature that the County Executive is authorized to execute on behalf of the County any documents necessary to convey property located at 1579 Central Avenue (Tax Map No. 41.8-6-41) in the Town of Colonie to LSDG LLC, Watervliet, NY 12189 for $100, and, be it further
RESOLVED, That LSDG LLC shall be responsible for all closing costs on the date of the closing, and, be it further
RESOLVED, That the County Attorney is authorized to approve said conveyance as to form and content, and, be it further
RESOLVED, That the Clerk of the County Legislature is directed to forward certified copies of this resolution to the appropriate County Officials.