Ogdensburg Land Bank Receives Offer for Ogden Street House |

OGDENSBURG — One of two homes built by BOCES students from St. Lawrence-Lewis and purchased by the Ogdensburg Land Bank Corp. could soon be withdrawn from the market.

Last year, the Ogdensburg Land Bank Corp. – responsible for facilitating the return of vacant, abandoned, underutilized, and tax-delinquent properties in the City of Ogdensburg to productive use for the payment of taxes – purchased two BOCES student-built units, one at Northwest Tech, Ogdensburg, and the other at Southwest Tech, Governor.

The homes were placed at 902 Ogden St. and 520 Barre St.

Phil Cosmo, president of the land bank established in 2018, said a sale is possible in the near future of one of the properties.

“We have a tentative offer on 902 Ogden. We’re pretty confident, but I don’t want to say it’s final until the loan comes from the potential buyer,” Cosmo said, “we had a bit of interest in that one.

He believes the large lot and one-story house were attractive to those looking for a new home. The Ogden Street home went on the market in late spring.

“We were pleasantly surprised that everything went so quickly. Even before we were ready to bring it to market, we had people calling the number, so obviously there’s interest there,” Cosmo said.

The land bank hopes to close on this property this month.

The other Barre Street property is currently bidding for a new heating system and some interior work that needs to be completed before it can be put on the market, according to Cosmo.

“Once that is done, that too will come out in the market. I hope, as soon as possible,” he said. The land bank has been slowed down to prepare this house for sale by being able to find a contractor to provide the work.

As a volunteer board member, Cosmo said they learned a lot through trial and error, not only in this latest project, but also in others that included the rehabilitation and demolition of houses.

“We learn as we go, as do the buyers who deal with us,” Cosmo said. “We are happy that they have stayed with us and again we are learning as we go. Hopefully we can learn from our past experiences and move forward.

After the sale of 902 Ogden St. is complete, Cosmo said the proceeds will be reinvested into the land bank to help fund other projects in the future.

“The state has done a great job with this program. They gave us the seed capital a couple of years ago and we’re putting it back as we get sales of these things so we can do future projects,” Cosmo said, “We don’t make no profit on these things. “,

In fact, if the land bank breaks even, Cosmo said they would consider it a win.

The overall goal is to put homes and properties back on the tax roll in the City of Ogdensburg.

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