Malone Telegram | Indian Trails Apartments eyed by out-of-state management company

ARTICLE OPTIONS

MALONE — One of the largest apartment management companies in the country is pursuing the purchase of the Indian Trails Apartments, contingent on the receipt of a federal grant and the extension of a payment in lieu of taxes agreement.

WinnCompanies of Boston has asked the Town Council to submit a letter in support of its grant application, Supervisor Howard F. Maneely said Monday. The grant would pay for a “complete remodeling of all the buildings” in the 128-unit apartment complex, Mr. Maneely said.

The board is scheduled to meet this morning to vote on the letter.

The company, which bills itself as the largest manager of low-income housing in the nation, also is seeking an extension of the payment in lieu of taxes agreement the current owner — Eastview Associates of New York City — has with the various taxing entities, Mr. Maneely said. That agreement requires the owner to pay the full cost of fire protection and water and sewer service, but only 10 percent of the full tax bill for the property, Mr. Maneely said.

The supervisor said he has spoken with representatives of the other taxing entities — the village of Malone, Franklin County and the Malone Central School District — about the requested extension. Those municipalities are generally supportive of the idea, Mr. Maneely said.

In exchange for the local support, Mr. Maneely said, he has asked Winn to build sidewalks along Webster Street connecting the complex to the Davis Elementary School and to agree to use local labor whenever possible during the renovation project. The possibility of adding sidewalks on the Finney Boulevard side of the complex also has been discussed, Mr. Maneely said.

Indian Trails management referred questions about the possible sale to Eastview Associates, where the person responsible for the complex could not be reached. WinnCompanies representatives did not respond to requests for comment Monday.

WinnCompanies was founded in 1971, and as of 2013, was listed as the sixth-largest multi-family property manager in the country.

The company prides itself on promoting green initiatives and revitalizing buildings to create new, innovative housing, primarily for families.

Indian Trails provides housing — some of it subsidized — to low- and moderate-income tenants. The complex was built in 1975.

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