Shop ‘n Save will join properties for sale

Shop ‘n Save will join properties for sale

Last week’s Policy Brief detailed the closure of the subsidized Shop ‘n Save in the Centre Heldman Plaza and noted that a related issue was the proposed sale of four properties owned by the plaza’s nonprofit landlord.  The same week there was an announcement that a development company had “backing” to purchase the properties.  The nonprofit was seeking a minimum bid of $5 million and the Brief noted that the current assessed value of the properties was a combined $8.6 million.

Events have accelerated significantly since then: yesterday a newspaper article noted that the nonprofit now plans to dissolve entirely by the end of June, that it has agreements with other nonprofits to handle its services and will now sell three other properties not included in the request for proposals that was steered through the Urban Redevelopment Authority.  That RFP noted that the successful bidder would have to guarantee the nonprofit office space at no charge for two years, a time frame which has now been altered by the nonprofit’s dissolution.

One of the three properties is the plaza housing the Shop ‘n Save, which has a delinquent property taxes that are close to $200,000. A board member of the nonprofit mentioned that the sale could be to a developer who could also operate the store. The other two properties are both classified as charitable and are exempt from property taxes.  The combined assessed value of all three properties is $4.6 million.

The county Court of Common Pleas is overseeing the sale of the properties.  As we pointed out in the Brief there should be no additional subsidies involved in attracting a  new grocery store.