In a fax sent to Driscoll today, John L. Garvin, Senior Advisor to the Assistant Secretary of HUD said: “Based on the City’s interest in this property, HUD will postpone the sale date for 21 days.”

Mayor Driscoll said, “This postponement allows the City to seek private sector developers interested in maintaining these buildings, who have the financial backing and property management experience. The City wants to ensure not only that these strategically located properties are maintained but that the tenants are in safe and decent housing.” Driscoll continued, “The City will use his time to pursue other options.”

On Monday the mayor asked HUD to postpone the auction after officials notified the City during a conference call on Friday, March 21, that the option was to purchase the building package for $9 million and would need an additional $16 million for renovation costs.

Driscoll previously said, “Obviously the city is not in the position to undertake a $25 million investment, a purchase that is not economically viable in this real estate market.” The Mayor is asking for the 21 day postponement to provide the time to enlist wider private sector interest in the properties. “Our ultimate goal is to see that these buildings end up in the hands of a company with sufficient resources to fix them and a proven track record of property management.”

The properties are 407 Stolp Avenue; 1000 Bellevue Avenue; 1445 South Salina Street; 1530 East Genesee Street; 615 James Street; 622 James Street; and 828 South West Street, 400 West Onondaga Street and 410 West Onondaga Street.