In an attempt to assist a future business owner, YMCA Buffalo Niagara has worked with an assessor to lower the assessed property value of the old Lockport YMCA building.
The former East Avenue home of the YMCA was assessed at $1,524,000 when the YMCA first issued a RFP, but now the property's assessment has been reduced to $350,000.
"As we shift our focus to our new state-of-the-art building in the Town of Lockport, we want to ensure this property contributes to the revitalization of downtown Lockport,” said John Ehrbar, YMCA Buffalo Niagara president/CEO.
The Greater Lockport Development Corp. is providing the YMCA with technical assistance through the Request for Proposal Process.
“We appreciate that the YMCA is giving us the opportunity to assist in identifying the next owner of the property. 19 East Avenue is in the heart of our downtown, surrounded by properties that will be invested in as part of the $10 million Downtown Revitalization Initiative. We look forward to reviewing proposals that allow the property to realize its full potential.” said Brian M. Smith, president/CEO of the GLDC.
Matthew Shriver, the senior vice president of finance for YMCA Buffalo Niagara, said that they decided to lower the assessment in an attempt to help lower the property taxes a future owner would pay. He added the new assessment is based on a fair market value.
The initial RFP did field a couple inquires but no one made an offer, Shriver said. He attributes that to the initial assessment having a short window of time. The current RFP is open through Sept. 30.
The YMCA vacated the three-story, 33,360 square-foot building in October, upon relocating to a brand-new, 52,000 square-foot location at 5833 Snyder Drive. The new location was intended to provide new equipment, more modern facilities and more space for programming.
The YMCA broke ground on the new facility in July 2017 after a nearly 20-year drive to raise $10 million for construction.
Interested and qualified applicants should contact Shriver.