Syracuse, N.Y. - Onondaga County Executive Ryan McMahon is creating a new arm of county government to seize tax-delinquent commercial and industrial properties and sell them.
McMahon plans to set up a new board called the Onondaga County Accountability and Reinvestment Corp. In order for the county to take over a property, however the county legislature has to approve.
Only parcels that are at least three years behind on tax payments are eligible.
The first commercial property targeted for foreclosure is a shuttered coal-fired power plant on Industrial Drive in Geddes, which owes more than $1 million in property taxes.
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