City Nets $61,688 in Auction, Keeps Highway Oil

After foreclosing on three properties in Plattsburgh, the City Council will bring in $108,364 on two of those properties after the delinquencies are paid back.. Plattsburgh Mayor Jim Calnon says the city has decided to hold on to the Highway Oil Property..

041714 - Highway Oil - SLIDE

The total delinquency on the two properties Auctioned on Wednesday was Just over $5,000 and they sold for $113,500.. During their work session on Thursday, Mayor Calnon told the council that he valued the Highway Oil property at approximately $46,676 which would net the city, even without the third sale.. $61,688.00.. Until the council decides what to do with the property, Mayor Calnon says the City should take the opportunity to capitalize the value of the property..

AUDIO – 072514 – City Auctions Property – Keeps Highway Oil

Needless to say there will be some additional costs.. including demolition and lot clearing but those will also be attributed to their new asset and at some point in the future, As long as there isn’t any mold inside the building, the council will begin deliberations on how best to make use of the property..

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