By Susan E. Campbell
Following two and a half years of negotiation and due diligence, the Saratoga County Industrial Development Authority is now only months away from purchasing a 20-acre plot in the Luther Forest Technology Campus, a transaction that is an “ambitious and rare collaboration among the public and private sectors,” according to Rod Sutton, IDA board chairman.
The plot is part of 125 acres leased, with an option to purchase, by private developers known as the MRFA Group. Sutton said the parcel is desirable because the acreage is “fairly flat, accessible and sits on the corner of two paved roads” in the park.
The land will not be useable and saleable until power, sewer and gas lines have been extended to the site, making it “shovel ready.”
“To be of any value, the property needs the infrastructure in place,” said Sutton. “Developers do not want to buy on speculation.”