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City Land Auction Realizes $2.9 Million in High Bids. Posted on Thursday, March 30 @ 11:29:46 EST by jfbailey

Government

WPCNR CITY HALL CIRCUIT. By John F. Bailey. March 30, 2006 UPDATED 2:15 P.M.with Lot Identification Clarification Keyed to Map: Gina Cuneo-Harwood, Commissioner of Finance for the City of White Plains reports the auction of 8 Railside Avenue lots has generated total high bids on each property of  “a little more than $2.9 Million,” based on opening of bids Wednesday morning at City Hall The amount is a million dollars less than some common councilmembers told WPCNR they expected.

 

 



 

 Paul Wood, speaking with Ms. Harwood in a conference call with WPCNR noted that the $2.9 Million amounted to a 9% increase in the equivalent of city taxes needed to create the potential windfall. Wood objected to reporting the sale as below expectations,  saying a previous sale and an expected sale of a lot that was withdrawn could bring the Railside Avenue sell-off windfall to $4 Million.

 

WPCNR has also learned that one bidder bid for all the properties, but was rejected as being "non-conforming."

 

Ms. Cuneo-Harwood said a total of 29 bids were received on the eight lots. Lot 1,  fronting Ridgeway Avenue, according to Councilman Benjamin Boykin (speaking at Ridgeway School Monday night), was withdrawn from the sale to be redrawn with a conservation easement, then reoffered for sale at a later date. She reports the number of bids as follows:

 

 

PARCEL  5 -- 11 Railside Avenue – 7 BIDS

PARCEL 4 -- 9 Railside Avenue – 5 BIDS

PARCEL  6--  15 Railside Avenue – 5 BIDS

PARCEL  3 -- 7 Railside Avenue 4 Bids

PARCEL 7 – 17 Railside Avenue -- 2 BIDS

 

PARCEL  8--19 Railside Ave.– 2 BIDS

PARCEL  9 -- 21 Railside Ave.  2 BIDS

PARCEL  2  5 Railside Avenue– 2 BIDS

 

Parcels 3,4,5, 6 and 11  were the hot items in the two week bidding period that began March 16. Parcel 10 had previously sold for $450,150, Wood said. Wood pointed out that the approximately $3 Million the city stands to receive from the sales from these eight properties, did not count that $450,000 sale, and that $365,000 was expected from the eventual sale of Parcel 1, which could eventual reach the $4 Million mark, closer to what WPCNR has been told by councilpersons that they expected. Map, WPCNR News Archive

 

 

The Finance Department  has told WPCNR that one bid was made for all 9 properties, but was rejected as "nonforming." Ms. Cuneo-Harwood said. 

 

The average bid of the eight properties was $362,000.

 

Take Out Bid Rejected.

 

The Commissioner said that one bidder bid for more than one property, but mentioned one high bidder bidding on multiple properties, did not get the high bid on all the properties they bid on.

 

Names of Bidders and Bid Amounts Delayed Pending Bidder notification.

 

WPCNR asked for the names of all bidders and the bids they made on the properties, but Mr. Wood and Ms. Cuneo-Harwood said that all high bidders had not been notified they were the successful bidders yet. WPCNR asked if some of the bidders were present at the bid opening, and Ms. Cuneo-Harwood said some were. WPCNR pointed out that if the high bidders were present  and the bids were announced, those “high bidders” knew they had the property. Cuneo-Harwood said that was not necessarily true, saying they could be disqualified, or something might go wrong with their bid check.

 

WPCNR suggested that by not revealing who all the bidders and their bids were at this time, before the sale, it allowed the city to select a lower bidder for some reason.

 

Wood said that it was not the City that decided on whom the property was sold to, that it was the Common Council decision to sell, and that the winners would be announced in the Common Council meeting agenda available perhaps Friday afternoon.

 

WPCNR has determined in a poll of Councilpersons that neither Rita Malmud, Tom Roach or Benjamin Boykin, or Glen Hockley or Arnold Bernstein  were present at the opening of the bids.  Robert Greer has not been contacted yet. Mayor Joseph Delfino has been reportedly on vacation this week , the location of which has not been publicly disclosed.

 

Wither the FOIA?

 

A FOIA request filed by WPCNR today for those lists of all bidders, WPCNR was told would be complied with  after the Common Council is scheduled to vote upon the sales Monday evening, April 3. Mr Wood, the Mayor's Executive Officer has further said  he is compelled to respond to the request within "5 business days, so that would mean Wednesday.  But as I told you, we'll be happy to provide you with the info three days early on Monday."


 
Related Links
· City of White Plains
· More about Government
· News by jfbailey


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Update: The Fortunoffs Come to White Plains


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