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Dutchess County Comptroller Dan Aymar-Blair is urging the county to establish a formal policy for purchasing real estate, as the search for permanent homeless shelters continues in Poughkeepsie. The need for clear guidelines comes after the county's acquisition of 26 Oakley Street faced scrutiny and legal challenges.
According to Mid Hudson News, Aymar-Blair stated, "No due diligence has been done on the property before its purchase. It wasn’t compared to other properties. We weren’t aware at the time of the purchase that it was going to take more than $10 million worth of investment, and there are no policies and procedures in the county." The county currently relies on mobile jail units and motels to house the homeless as officials pursue a more permanent solution.
The development of 26 Oakley Street remains uncertain due to ongoing legal disputes. As these issues persist, Aymar-Blair emphasized the importance of creating a property acquisition policy to ensure future purchases are evaluated carefully and costs are transparent.
Meanwhile, new federal rules from the Financial Crimes Enforcement Network (FinCEN) will soon require increased transparency for real estate transactions involving business entities. According to Buckley Fine Law, starting Sunday (March 1), 2026, all-cash residential property transactions involving LLCs, corporations, or trusts will need to be reported to the U.S. Treasury. This move aims to combat illicit financial activities and could impact how local governments, including Dutchess County, structure future property purchases.
As Dutchess County officials work to address homelessness and comply with evolving regulations, the call for a structured policy on real estate acquisitions is expected to remain a key topic of discussion.