SWANTON — Maquam Holdings’ Ace Hardware project is like a shaken snow globe. A blizzard of barely decipherable information is flying in every direction, obscuring the actual project, its history and its possible effects.
Here are facts.
The Village of Swanton and Maquam Holdings signed a purchase and sale agreement for 3 Label Lane, the Memorial Building, at the Village Board of Trustees’ regular meeting Monday night.
Maquam Holdings, owned by Swanton residents Debbie and Gordon Winters, has already purchased the Prouty building and the old Champlain Theater on Canada Street.
The terms of the Memorial Building sale are simple: the village transfers the property to Maquam Holdings for $1 — on two conditions: one, that the Winters make $300,000 worth of site improvements on the property within two years, and two, that the property’s grand list value be at least $1.3 million once renovations are complete.
Prior to the sale, no taxes were collected on the Memorial Building, which is valued at $170,000, because it was owned by the village.
The Prouty building and theater were assessed at a combined $330,000.
Basically, the village’s deal with the Winters requires that they add just shy of $1 million to Swanton’s grand list as part of the sale of the Memorial Building.
For the full story, including the Messenger’s interview with project opponent David Winchester, pick up a copy of the weekend Messenger or subscribe to our digital edition.