Sitting on the sidelines watching the vacant Center School scenario unfold in Hatfield, I see a few issues.
The town has voted to have it be developed for use as an over-55 apartment building, but if there are no bidders then the town knocks it down. If the building is renovated, they say the town will get $40,000 a year in taxes, but if the building is knocked down, then the town will pay $400,000 and just have a park.
Let’s take a 40-year projection: $40,000 in tax revenue times comes to $1.6 million in town revenue.
If we just have a park, then 40 times $1,000 a year to keep it mowed is $40,000.
I think the renovation in the long term is the better deal. Business people tell me you have to spend money to make money. What I would do is get at least three proven developers who have good track records to bid on this in a different way.
I would have each of them put up a check for $5,000 to participate. If they lose the bid, then $1,000 is nonrefundable, while the winner pays $5,000.
If you had three bidders, then the town would get $7,000, enough to pay for advertising this project and then some money to pay someone to ensure that the bidders are qualified.
I would put bidders’ names in a hat and the name pulled gets the building. Are you giving the building away? Yes and no. It has been proven that developers do not want to pay a lot of money, because they will have to pump in a lot of money to fix it.
In the long term, if we do it this way, the town will recoup the appraised value over the years.
Edmund Jaworski Jr.
Hatfield