THREE FIRMS GET OK TO BUY ALBANY INDUSTRIAL PARK PARCELS

Deborah Gesensway Staff writer
Section: LOCAL,  Page: B3

Date: Wednesday, June 22, 1988

The city's Industrial Development Agency agreed Tuesday to sell three parcels in an industrial park under development on Erie Boulevard in North Albany to three separate businesses.


If the three firms that have expressed interest in buying the land go through with the purchases, there will be only one lot without a tenant left in the seven-parcel, 14-acre industrial park, according to Donald Western of the Economic Development Department. Western said officials of these three firms said they want to buy lots:


*Thruway Fasteners Inc. of North Tonawanda, Niagara County, wants to build a distribution warehouse to replace warehouse space the hardware company is renting in Guilderland. The cost of 1 1/2 acres of land would be $63,750, he said.


*Ruch Distributors Inc., a beer distributor, wants to move from its building on Terminal Avenue in Albany into a larger structure, Western said. The price of 4.3 acres would be $182,750, he said.


*Ron Krolick has said he would like to purchase 1 1/2 acres to construct a building that he would rent to an unidentified woodworking firm, Western said. That land would cost $63,750.


The other parcels in the Erie Boulevard Commerce Park are being developed by the city with assistance from a federal urban development action grant, he said. Tenants for three of those four sites are lined up already, he said.


Construction of a road and extension of utilities through the property near Interstate 787 and the city's border with Menands started in the spring and should be completed in October, Western said.


Before authorizing the Economic Development Department to arrange to sell the lots to the companies at those prices, several IDA members said they wanted a formal commitment from the buyers that they would begin construction of their buildings shortly after closing on the sales and that they wouldn't sit on the property until they could sell it for a profit.


"The city is spending a substantial amount of money (in building the road) to increase the tax base and to create jobs," Willard Bruce, Planning Department director and an IDA member, said. "We should have some commitment they will do things to increase the tax base and create jobs."


Western said that type of commitment will be received "by the time of the closing."