Olean Urban Renewal Agency eyeing properties for redevelopment

OLEAN — Urban renewal officials are looking at several properties for redevelopment in the city.

During the monthly meeting of the Olean Urban Renewal Agency board on Wednesday, officials received an update from city Department of Community Development Coordinator Keri Kerper on a push to reach out to property owners and developers.

Kerper said that the URA board authorized her in November to contact property owners for redevelopment opportunities, but she said Wednesday she delayed moving forward until recently-elected Mayor Amy Sherburne was in office. After inauguration on Jan. 2, Kerper discussed several properties with Sherburne, as well as three others for potential acquisition or redevelopment.

Sherburne said she and Kerper will move on the matter in upcoming months.

“I look forward to that,” Sherburne said. “We can work together on approaching the different developers, finding out what they hope for their properties and what we hope for them. I think we’ll be a good team.”

URA officials have been considering additional opportunities to boost redevelopment over the past six years after clearing one of the agency’s largest projects.

In 2010, the URA later took title to the First National building after several failed private attempts to redevelop the vacant building. Through several rounds of bidding, the URA made a deal with Buffalo-based Savarino to redevelop the building, transferring it off the URA property list in 2020.

Dating back to the 1960s, the URA is a public benefit corporation originally established to facilitate federal funding from President Lyndon Johnson’s Great Society initiatives. After downtown revitalization efforts in the 1960s and 1970s, the URA was reactivated in the 1980s and 1990s for the development of Constitution Avenue. The only remaining properties in the URA’s portfolio are two vacant lots on that corridor after selling the remainder to businesses and developing a small parcel between 12th and 13th streets into a trailhead for the Allegheny River Valley Trail in 2023.

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