News & Updates | Chautauqua County Land Bank

Land Bank rescues REO property.

Posted on Thursday, October 13, 2016 at 10:46 AM

From the Dunkirk Observer.


The Chautauqua County Land Bank recently voted to acquire a real estate-owned property in Fredonia, lest it languish for years to come.

Administrative Director Gina Paradis said the house at 74 Gardner St. had been on the Land Bank’s radar before.

The purchase price was $34,000 – $4,000 more than the Land Bank’s pre-approval purchase policy allows.

“It could have sat for another two years and it already has a roof issue,” Paradis explained, adding that these funds are not from the Office of the Attorney General, but unrestricted funds from the sales of other properties.

The board approved this along with the disposition of side lots at 27 Buffalo St. in Silver Creek, 75 Fairview Ave. and Lake Shore Drive E (landlocked) in Dunkirk and 77.5 Hazzard St. in Jamestown. Other sidelots on Foote Avenue in Jamestown were separated and will be marketed separately.

Paradis also gave an update on the property at 28 University Park in Fredonia, which has a major mold issue that is being remediated.

Executive Director Mark Geise gave an update on Hideaway Bay in Silver Creek, which will require a title search and survey, but the building is likely not salvageable.

Board member Peter Lombardi tendered his resignation. Geise was also leaving the county, but said he would like to remain involved in some capacity.




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