WALLINGFORD — The vacant Brothers Restaurant property is scheduled to be auctioned next month, and Mayor William W. Dickinson Jr. wants the town to bid.
The total parcel at 33 N. Cherry St. is appraised at $524,000, with the land appraised at $87,400 and improvements at $436,600, according to town property records.
At Tuesday’s meeting, the Town Council is slated to discuss whether to authorize Dickinson, or a designee, to bid at the auction. The council may approve the authorization that evening as well.
The court requires a $47,000 deposit from all parties who wish to participate in the auction, slated for Saturday, Sept. 8.
According to a letter from Dickinson to the Town Council, the maximum bid authorization will be kept confidential. If the town is successful at the auction and acquires the property, the Town Council will need to approve a funding ordinance.
The auction winner must pay the balance of the purchase price within 30 days of the sale.
Dickinson said in the letter that the town should be interested in acquiring the property because it would support downtown revitalization, including the newly established town center zone, Incentive Housing Zone and other transit-oriented projects.
Acquiring the property would increase public parking by more than 40 spaces, the letter stated. It wasn’t immediately clear whether the town would raze the building to increase parking, and Dickinson wasn’t available Friday for comment.
Property owner Ralph DeMatteo closed Brothers Restaurant in January 2017. The restaurant opened in 1984.
The building on North Cherry Street is 7,258 square feet and includes a dining room, bar, two banquet rooms and two kitchens.
The property has a lien of $32,802.87 that will increase to $33,207.64 next month, as the interest on upaid property taxes increases monthly.
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