Wellsville: Village advances potential sale of former 'Burrous Building'

The Wellsville Village Board Monday night unanimously approved the potential sale of the former Burrous Building to Lakewood Development. Two Plus Four Construction, a division of Lakewood, has agreed to front $1,000 to the village...with another $29,000 if funding can be secured. The sale price was determined by a recent independent appraisal. The offer is valid for one year but can be extended another six months if the development company so chooses. The entire deal hinges on whether or not Lakewood can secure proper funding, which insiders say is a pretty good bet.
If the deal goes through, the village says it will move into the lower of the building rent-free with senior housing planned for the upper levels.
Officials say the $1,000 'deposit' is nonrefundable should the deal sour. This is the resolution approved by the village Monday night: