Some are talking about going to the auction to see if they can pick-up the building "on the cheap." There's nothing cheap about this situation. Please know that $760 is an approximate, starting bid. It won't go down, but up. Also, there will be thousands in municipal fees after the sale, about $10,000 in 2019 taxes, and then 100s of thousands to millions to get the building in shape.
This is why the local hope is that the Brick Block, and other worthy structures in the borough, will be sought and won by suitors of means, of heart for artful preservation, of understanding about the ripening market, and of foresight for the potentially great public-relations campaigns and good business that could come from the union. A large lumber concern, a high-end restoration company, or even a well-funded non-profit could make for a perfect marriage.
I'd be glad for any buyer who had the resources, vision and dedication to do right by the building and the town. Short of that, I believe the building’s best fate would be for no one to win it at the Judicial-Sale auction on Wednesday. It would then become a “Repository Property” (with the county, the borough and the school system). None of them is set up to manage the property, but, at least, future suitors would need to propose an acceptable vision for the union. (The minimum bid in repository would be $500, and the Borough is likely to take the lead in this process.)
Out here,
Megan
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