North Adams Council to Review Housing Proposal for Sullivan School
iBerkshires.com reports the North Adams City Council will weigh in next week on a bid to turn the former Sullivan Elementary School property into 75 units of housing, most of which will be affordable.
Xenolith Partners LLC of Bedford, N.Y., and SanoRubin Construction Services LLC of Albany, N.Y., are offering $10,000, well below the assessed value of $2,333,350 and requiring council to approval to proceed. It was the only bid on the property.
The bids were reviewed by the Proposer Selection Review Committee made up of Administrative Officer Angie Lopes Ellison, Community Development Director Michael Nuvallie and Project Coordinator Zachary Feury. The committee is recommending the plan with some caveats.
The developers are requesting a 30-plus year tax abatement that would limit property taxes on each unit to between $710 to $900 with annual escalations of 2 percent. The top tax after 30 years would be about $1,630.23.