An Oct. 28, 2003 resolution authorizing the village attorney to make a purchase offer not to exceed $175,000 for 20 Hudson St. was rescinded by the Oxford Village Council Tuesday night.
Council’s unanimous action came as a result of a recent decision by the Oxford Community Development Authority to not contribute any funds toward the purchase because the property is located outside the its district boundaries.
That Oct. 28 resolution was “contingent on council and (the) OCDA working out financing.”
The property in question is owned by Barbara Kammerer and located on the east side of Hudson St., contiguous with the southwest downtown parking quadrant.
The village began working toward the possible purchase of the property – which was appraised at $160,000 – with an eye toward future expansion of downtown parking in that quadrant.
On Nov. 11, 2003 council approved a draft agreement between the village and OCDA outlining exactly how the property purchase would be financed.
However, a recent discovery and subsequent action by the OCDA resulted in council’s rescinding their resolutions.
“It has come to the attention of the OCDA Board that the property located at 20 Hudson St. is not within the OCDA District Boundary, rather directly outside it,” wrote OCDA Executive Director Michelle Bishop in a Jan. 8 memo to council. “For this reason, it would not be appropriate for the OCDA to contribute monies towards the purchase of this property.”
Included in Bishop’s memo was the language of a Jan. 6 motion approved by the OCDA board rescinding a Dec. 2, 2003 OCDA motion, whereby the downtown development authority agreed to “pay the interest only, on an interest only loan” for the purchase of 20 Hudson St.
Councilman Dave Bailey commented that council’s rescinding of its purchase offer does not mean the village is not interested in acquiring the property, it just means its not interested in doing it in the way it had originally planned.