A special meeting of the Montgomery County Legislature scheduled for Tuesday was cancelled when the buyers of three parcels in the town of Glen paid for their purchase.
At a foreclosure auction in May, Fort Johnson-based Buanno Holdings LLC bought the three parcels, including the site of the former Poplars Resort in Fultonville, for $185,000. At last week’s meeting of the legislature’s Budget and Finance Committee, comprised of all nine legislators, Chairman Thomas Quackenbush said the county still had not been paid and a closing had not taken place. After a brief executive session at that meeting, Quackenbush said he would call a special meeting to resolve the issue.
“The reason we cancelled the [special] meeting was because Buanno [Holdings LLC], who we had the agreement with, came in and paid in full the amount of the purchase price necessary to finish the transaction,” Legislature Chairman Thomas Quackenbush explained. “We were going to have a resolution rescinding the agreement if they hadn’t, but they did, so we cancelled the meeting.”
The three parcels were supposed to be combined and sold as one, but the auctioneer sold them separately instead..The sale was put on hold until legislators voted in July to combine the three parcels and sell them to Buanno Holdings LLC.