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Bank forecloses on Pine Plains library building

PINE PLAINS ­­— It was over in a matter of minutes — the foreclosure sale of the Pine Plains library building that took place at the Poughkeepsie courthouse on Wednesday, Jan. 9. There were no bidders other than the Bank of Millbrook, which was the plaintiff in the action. The reading of the notice of sale was waived. The opening bid was asked for, and given, at $1.45 million, after which no other bids followed. And then it was done, with the bank walking away as the new owner of the building that only opened its doors to the public in 2009.“It was very quick, with no surprises,” said Bank of Millbrook President George Whalen III. “We are the new owners.”Which doesn’t really change the situation, according to those involved. Although the Pine Plains Library and Community Center foreclosed on the building, the library will continue to operate until it is evicted, according to Library Board of Trustees President James Mara.“For us, nothing has changed,” he said. “It’s business as usual. The library is there and functioning, and until we’re told that it has to cease, it’s business as usual. I’m not sure how this transfer of ownership will affect us. The trustees are not a part of the process, so right now we’re just running a library, and that’s the extent of it.”The town, however, is hoping to continue negotiations with the bank and walk away owner of the library building — if the price is right.“Now we’ll sit down with them and negotiate,” said town Supervisor Brian Coons. “I’m hopeful. I would love to buy the building, and we’re weighing out what the town can afford and what kind of burden it would be on the taxpayer. It doesn’t matter what I believe, it’s up to the taxpayer. If we agree on a price it will still come up for public referendum, and the people will have to vote on it.”Coons said it’s a lot to ask of taxpayers, as the $1.5 million debt would cost $100,000 a year, on top of the $50,000 a year it costs to maintain the building, resulting in a $150,000 or 15 percent budget increase. That amounts to a $150 spike in taxes per $100,000 per assessed value of property.“That’s where it starts to burden the taxpayer,” Coons said. “But either way people will get to vote on it. It’s really up to the people of Pine Plains.”“I’m hopeful that they will put forth an offer,” Whalen said of the town. “But we’ve got to move ahead and be proactive in selling the property. We’re not allowed to hold real estate on a long-term basis unless we use it in the operations of the bank. I personally want to see this building remain the library and the town as the owner. That’s just my opinion. I hope they are able to put forth an offer, and I hope it’s a reasonable one that can be accepted and acted upon.”

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