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Neighbors of Watertown gets purchase offer for Ten Eyck Street home

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On the market for more than a year, the new house at 122 Ten Eyck St. has a possible buyer.

Donald W. Rutherford, CEO of the Watertown Local Development Corp., also known as the Watertown Trust, received word Wednesday that someone has come forward with a purchase offer of $186,000 for the three-bedroom, single-family house that Neighbors of Watertown Inc. built.

He recommended to Watertown Local Development Corp. board members that they take the deal after telling them that Reginald J. Schweitzer, Neighbors of Watertown deputy director, called him Wednesday night with the news.

“Make a clean break. Take our hit,” Mr. Rutherford told board members.

If the purchase offer goes through, the buyers will receive an $8,000 break on closing costs from the three agencies involved in the project — the Trust, the Development Authority of the North Country and Neighbors. The three agencies would stand to lose $11,838 each, with final project costs totaling $213,513.

DANC already has agreed informally to accept the purchase offer, he said.

Just last month, the Trust talked about renting the house out for the next three or four years rather than letting it sit empty for the winter.

Mayor Jeffrey E. Graham said Thursday that it was still a good idea to pursue the project, noting a need for in-fill housing in the city. It was built on an empty lot in an existing neighborhood.

“It was a good job to fill as a whole,” he told the other Trust board members.

Two months ago, Trust board members lowered the price for the 1,600-square-foot house to $189,900 because no one had expressed any real interest in buying it.

The house had been listed at $192,500; when it first went on the market, the price was $195,000.

DANC and the Trust lent money for the project, putting $170,000 toward the house.

In other business, the Trust amended a loan to Guilfoyle Ambulance Service from $218,000 to $252,500 to help the company purchase the former Covidian building on Faichney Drive for its new home. The loan will go toward purchasing the former plant for about $1 million. The deal should close in January.

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