OSWEGO, NY Ã¢â‚¬â€œ At its meeting Monday night, the Common Council approved deeding the Armory to the YMCA.
The city obtained the historic site on West First Street from the state on July 14, 2006; it has been leased to the YMCA since then.
The YMCA is proposing some major alteration to the Armory, for which it must obtain funding.
It is necessary for the YMCA to have ownership of the Armory in order to obtain the needed funding for the proposed project.
The council voted 5-0-1 (Mike Joyce was absent) to authorize the mayor to turn the deed over to YMCA for $1.
The deed contains restrictions with respect to the demolition, construction, alteration, remodeling or excavation of the Oswego Armory, and with respect to the use of the facility under Section 34 of the Public Lands Law.
Also, according to the terms of the resolution, if the YMCA doesn’t obtain sufficient funding or doesn’t go forward with the proposed project at the Armory, the council would like the facility to revert back to ownership by the city.
In the event the YMCA wishes to sell the property, the city shall have a right of first refusal to purchase the property for the lesser amount of the offered sale price or the property’s fair market value.