Albany Seeks 83 Percent Reduction In Value Of Coeymans Property

While a lower assessment would save the city money going forward, it could jeopardize Albany receiving a sale price to make up for the $5 million it paid over the course of 1996 to 2006, according to a list of payments in the purchase agreement included in the recent appraisal. Back in 1993, Mayor Jerry Jennings' administration picked the Coeymans property to be home to a new dump, expected to provide relief ahead of the upcoming closure of the Rapp Road landfill. Opponents of the dump plan branded the sale price as a sweetheart deal that benefited prominent Democrats and Republicans. The owners' lawyer, John T.