MALTA– According to a report in the Times Union (TU), New York State officials are looking into selling off the Malta energy park piecemeal.The story says State officials will sell Saratoga Technology + Energy Park (STEP) in pieces instead of trying to find someone willing to purchase the entire 280-acre property. It also includes a reference to the park’s history as converted from a federal weapons testing facility.
The park’s current owner is New York State Energy Research and Development Authority (NYSERDA), formerly known as the New York State Atomic and Space Development Authority.
While STEP was viewed as an integral part in serving the GLOBALFOUNDRIES first campus, and the Hudson Valley Community College’s satellite campus in Saratoga County, the TU reports those involved with the park consider the park to “have failed in reaching its intended potential”.
Village of Ballston Spa trustee Noah Shaw serves as general counsel for NYSERDA. According to the TU story, the idea to sell STEP’s grounds in pieces was the brainchild of Shaw, who took it to the board for a vote in January.
The board unanimously voted to approve the new strategy, also granting Shaw the power to negotiate with potential buyers directly rather than use the New York State auctioneers as a middleman.
“Some flexibility may be needed in order to maximize the return for the authority,” Shaw told NYSERDA’s board members, reports the TU.
Reporter Larry Rulison writes, “Three years ago, NYSERDA’s board found itself embroiled in controversy over STEP when it was revealed that Cuomo’s budget office had pushed NYSERDA to sell the tech park to SUNY Polytechnic Institute in Albany for the token sum of $1 to satisfy a multi-million-dollar state commitment to a SUNY Poly semiconductor research program that has since ended. At the time, STEP’s appraised valued was $9 million.”
Other options are still being considered including the redevelopment or re-purposing of STEP and other properties run by New York State for energy research.
READ THE FULL ARTICLE in the TU: https://www.timesunion.com/business/article/NYSERDA-now-can-sell-energy-park-piecemeal-12542699.php