A resolution that would give the Broome County Land Bank $825,000 for the purchase and demolition of the old Vestal Nursing Center is on the county legislature’s agenda for Thursday’s meeting.
The nursing home was flooded in 2011. Residents were relocated and the property has remained vacant and deteriorating ever since. It was bought by a limited liability company called 860 Vestal Empire, owned by Isaac Anzaroot in 2015 for $120,000.
Broome County Legislator Suzy Ryan said there is bipartisan support for the idea of demolishing the property. It is the $650,000 purchase price that is dividing people.
She said she is heard from residents, business owners, current and former elected officials who don’t think the deal makes sense.
Ryan has some specific questions.
“Why are we spending $650,000 on a 5-acre flooded property with a financial liability in the middle of it? And why haven’t we had a certified commercial appraisal of the property before we purchase it?” she said.
Aaron Martin is the land bank’s board chair. He is also the county clerk and formerly served as clerk of the legislature.
At a press conference in April, Martin estimated the demolition will cost about $800,000. That would make the total to buy and clear the site around $1.4 million.
The funding would come from various sources:
- About $250,000 from remaining federal COVID era funding (American Rescue Plan Act) that must be spent or returned by the end of 2026,
- A $500,000 state grant the county has applied for, but has not yet been awarded,
- And $820,000 in the county money the legislature is expected to vote on at its Thursday meeting.
A certified appraisal would be required to spend state or federal money if the county were the buyer. But, based on emails shared with WSKG, because the purchaser is the land bank an appraisal is not legally required, despite the fact that the county is giving the land bank the funds.
Ryan said there are more questions legislators have not been able to get answered.
She and other legislators also are uncomfortable with the deal because the property was formerly owned by Anzaroot.
Broome County Executive Jason Garnar describes him as “The most notorious slum lord in Broome County, not only has run afoul of a number of municipalities, code violations, failure to pay taxes, but has run afoul of the New York State Attorney General.”
County officials insist that the purchase money would not be going to Anzaroot. They have said it will go to the current mortgage holder, Brovha Capital, LLC. Tax records online still list the owner as Anzaroot’s LLC, 860 Vestal Empire, LLC.. County officials say that LLC declared bankruptcy last year.
Ryan and others also do not like that Brovha Capital is not a traditional mortgage lender, like a bank. It is a limited liability company and its business address is a residential home in Lakewood, New Jersey.
Martin, Garnar and Broome County Legislature Chair Dan Reynolds say the current price is the best price they could negotiate. The asking price dropped from over $2.0 million to around $1.5 million last year.
The tax assessment value is $200,000.
The legislature is set to vote on the resolution Thursday. All legislature meetings are open to the public. Comments can be submitted in writing through an online form.
The entire legislature is up for reelection this year.
Seven legislators have opponents. Eight are running unopposed.
