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  • Auction Notice: the Syracuse Urban Renewal Agency (SURA) and the Greater Syracuse Renewal Plan will sell at public auction at the City of Syracuse, City Hall Commons (201 E. Washington St.), Small Conference Room on the 5th floor, on September 13, 2016 at 11 AM the project at the property known as 350 Pond Street, Syracuse, NY.

     


     

    PURCHASING A SURA-OWNED PROPERTY  

    Interested buyers can apply to purchase property owned by the Syracuse Urban Renewal Agency. Click here for a current list of SURA-owned Properties. The application process is described in detail below. With questions or concerns, please contact SURA staff at 448-8100 or email SURA@syrgov.net

    1. Complete and send the SURA purchase application with a check or money order in the amount of the developers fee (see below), and all required documentation to SURA staff. Incomplete applications will not be evaluated. Please make checks payable to: Syracuse Urban Renewal Agency

             Developer fees:
             $750.00 for residential property 
             $1,250.00 for commercial property or commercial vacant lot 
             $250.00 for a residential vacant lot

             Mail or deliver applications to:
             Syracuse Urban Renewal Agency
             201 E. Washington St. Ste. 600
             Syracuse, NY 13202

    2. Upon receipt of a completed application, SURA may provide you with a general estimate of costs for repairs required to bring the property up to code (if applicable). The estimate of repairs will be compared to your completed application and you will be given an opportunity to amend your application if necessary.
    *You must be able to show financial means to purchase the property and complete any necessary repairs.
    **Upon the acceptance of your proposal you automatically become a qualified bidder for the purposes of paragraph number four.

    3. Upon acceptance of your application, an auction will be scheduled. Prior to auction, a minimum bid will be established for the property, and the terms of the auction and qualifications of bidders shall be published in a manner as determined by SURA. All bidders must fill out an application and be qualified prior by SURA staff prior to bidding at an auction. At auction, any qualified bidder may bid for the purpose of acquiring the property. As a general rule the highest bidder with an acceptable proposal shall be granted the right to purchase the property

    4. Following the auction, the SURA board will approve or deny the terms of the sale. Please note that the SURA board may award the sale to a lower bidder based upon the content of the proposal or other factors as explained in the Board’s final decision.

    5. A closing date will be scheduled, and the contract of sale and deed will be drafted. You will be required to meet with SURA’s attorney to execute these documents.
    *** Please note that the contract of sale and deed will contain provisions requiring the completion of the project within the time as outlined in the proposal and that absent an extension of time to complete the project by SURA, the property may revert back to SURA.
    **** Please note that you will be responsible for all costs associated with closing on the property, including but not limited to the costs of any documents required by your lender for the purpose of closing and any and all filing fees.

    Additional Information:

    1. Your developer fee may be forfeited if:  

    • You are awarded the bid at auction, and later back out.
    • The property is transferred to SURA based on its reliance of your approved application and you thereafter withdraw your application. If you feel that you have an acceptable explanation for the withdrawal of your application, the Board may consider the existing     circumstances in making a determination as to the refund of the developer fee.
    • You have materially misrepresented any information submitted by you in your purchase and development proposal application

    2. Your developer fee will be refunded if:
    • Your application is not approved by SURA staff.
    • You are outbid at auction and the sale is approved by the SURA board to another party.
    • Upon your physical inspection of the property prior to auction, you can show that there are previously undisclosed repairs necessary to bring the property up to code and that such repairs exceed by 5% the amount of funds stated on the application as available by you for repairs.
    • SURA is unsuccessful for any reason in acquiring title to the property.

    3. The property will be deeded to you by quit claim deed and without warranty. Title insurance may be available for the property. Please state in your application if you wish to purchase title insurance or if it will be required by your lender.

    4. The property must be zoned for the final use as stated in your proposal. The application may be rejected if the property is not currently zoned for the final use as proposed. In certain circumstances SURA may entertain proposals that require a re-zoning of the property. Please specify in your application if you believe that re- zoning is necessary for your proposal. 

    5. The transaction is subject to the ability of the City to, and agreement of the City to transfer title to the property to SURA.

    6. Reverter language shall be included in the purchase contract and the deed requiring the project at the property to be completed pursuant to, and within the time frame stated in the your final proposal.

    7. The terms of the sale are subject to the approval of the SURA board and may be subject to the approval of the City of Syracuse.

    8. At a minimum your proposal must address the correction of any code or zoning violations at the property and should further address any other factors required for the issuance of a certificate of occupancy.

    9. Any change of use of the property on or before December 6, 2025 will require the approval of SURA as well as any other approval currently required by law or local ordinance.

    Questions regarding the status of your application or the application process:
    SURA Staff
    Department of Neighborhood & Business Development 
     
    SURA@syrgov.net
    (315) 448-8100

    Estimated Development Costs:
    Brian Eisenberg
    Division of Code Enforcement 
    beisenberg@syrgov.net
    (315) 448-8689

    Legal Questions:
    Thomas Babilon 
    Department of Law  
    (315) 448-8400
     

     

     

     

     

     

     

     

     
 
       
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