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The town closed on its sale of the property this week to Capitol Seniors Housing for $3.5 million. Capitol plans on building a three-story assisting living facility for seniors at the site. The town foreclosed the property and took ownership of it in 2011.
"We will be generating revenue from building permit fees and from property taxes and won’t have the liability that goes with maintaining an abandoned property," Supervisor Paul Feiner said.
Feiner said the town must spend $1.9 million toward remediating the contaminants of the site.
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