Buyout Process Begins

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Buyout Process Begins

By WBNG News

The conversion from Route 17 and Interstate 81 to Interstate 86 is expected to begin in 2009.

But the process is already underway in Binghamton.

The State Department of Transportation is buying some homes to make way for the expansion.

Action News reporter Gabe Osterhout tells us more about the process of purchasing those homes.

Robin Coleman is one of 22 property owners selling their homes to the State Department of Transportation.

The DOT needs to buy homes and demolish them, to make room for improvements being made to Route 17 and Interstate 81, near Kamikaze Curve.

Those improvements will pave way for the conversion of the highway into Interstate 86.

Coleman has been working with the DOT for several years.

She got an offer for her home, Wednesday.

"I don't think it was majorly lower. It was a little bit lower than I expected but at the same time, when you stay somewhere I think you expect it to be more. When I say a little lower, a little lower than what we bought it," says Coleman.

The State DOT has a variety of real estate specialists working with
home owners to find a fair market price.

"We have several appraisals that we work with and it's the highest appraised that we have that we provide to that individual," says Dave Hamburg with the New York State DOT.
Not only does the DOT offer money for the home, it also helps find a new place for the owners to live...and pays for moving expenses.

"Properties that are on the market now that are considered decent, safe and sanitary and we have to find them with the approximate room count, same size, and amenities these houses have," says Ken Frommer, a Real Estate Specialist with the DOT.

33 households on Truesdell and Chenango Streets and Moffatt Avenue will be affected by the home buyouts.

While the owners are getting money for the property, tenants will also be getting money to move.

The DOT will cover any increase in rent for up to 42 months.

In Binghamton, Gabe Osterhout, WBNG-TV Action News.

Hamburg says all offers are expected to be complete by the end of September.

Once the offers are complete, people will have until June 2009 to move into their new home.

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