Tuesday, August 03, 2010
Hillcrest School's $3.1M price tag in doubt
Though the East Ramapo Board of Education approved the sale of Hillcrest Elementary School to a Hasidic congregation from New Square for $3.1 million, it appears that most board members never saw the most recent documentation of the property's worth.
Although an appraisal had been done on the Hillcrest school in May, valuing the land at approximately $5 million, the sale price agreed to Wednesday was based on an appraisal that Albert D'Agostino, the school district's attorney, had obtained that placed the value at about $3.2 million, board President Nathan Rothschild said.
Rothschild said the appraisal was never formally presented to the board and that only a handful of the board's nine members were provided access to the document.
Numerous attempts by The Journal News to see the appraisal documents were unsuccessful.
Rothschild said that he, too, was unable to secure a copy of the document, despite several attempts.
District Clerk Cathy Russell said Friday that she had been instructed to refer all questions regarding the appraisal to D'Agostino.
Several attempts to contact D'Agostino were unsuccessful.
Many public-school parents and advocates opposed the sale of Hillcrest Elementary School. The price tag, many parents said, was far below market value.
Even district officials were displeased with the low bids for the property.
"It's beyond comprehension how they can vote to do something without seeing the appraisal," said Antonio Luciano, a retired New York City police officer and public-school advocate, who unsuccessfully ran for a seat on the school board this year. "Of all my experiences in 17 years with the police department investigating corruption and misconduct, this reeks."
Located in Clarkstown, the Hillcrest school sits on 12 acres along Addison Boyce Drive in New City and borders New Square.
The school board voted 7-1 on Wednesday to sell the school and its acreage to Congregation Yeshiva Avir Yakov for $3.1 million.
The Clarkstown Tax Assessor's Office set the value of the property at $10.2 million.
http://www.lohud.com/article/20100802/NEWS03/8020329/Hillcrest-School-s-3-1M-price-tag-in-doubt
Although an appraisal had been done on the Hillcrest school in May, valuing the land at approximately $5 million, the sale price agreed to Wednesday was based on an appraisal that Albert D'Agostino, the school district's attorney, had obtained that placed the value at about $3.2 million, board President Nathan Rothschild said.
Rothschild said the appraisal was never formally presented to the board and that only a handful of the board's nine members were provided access to the document.
Numerous attempts by The Journal News to see the appraisal documents were unsuccessful.
Rothschild said that he, too, was unable to secure a copy of the document, despite several attempts.
District Clerk Cathy Russell said Friday that she had been instructed to refer all questions regarding the appraisal to D'Agostino.
Several attempts to contact D'Agostino were unsuccessful.
Many public-school parents and advocates opposed the sale of Hillcrest Elementary School. The price tag, many parents said, was far below market value.
Even district officials were displeased with the low bids for the property.
"It's beyond comprehension how they can vote to do something without seeing the appraisal," said Antonio Luciano, a retired New York City police officer and public-school advocate, who unsuccessfully ran for a seat on the school board this year. "Of all my experiences in 17 years with the police department investigating corruption and misconduct, this reeks."
Located in Clarkstown, the Hillcrest school sits on 12 acres along Addison Boyce Drive in New City and borders New Square.
The school board voted 7-1 on Wednesday to sell the school and its acreage to Congregation Yeshiva Avir Yakov for $3.1 million.
The Clarkstown Tax Assessor's Office set the value of the property at $10.2 million.
http://www.lohud.com/article/20100802/NEWS03/8020329/Hillcrest-School-s-3-1M-price-tag-in-doubt
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