Bill’s Point of View:
As you are aware Gloucester City came to an agreement recently to purchase the Amspec Chemical site (22 acres) for $5 million. We just learned that the City has been ![\"Notebook_and_pen\"](\"https://www.gloucestercitynews.net/.a/6a00d8341bf7d953ef01053719fb7e970b-120wi\")
trying to obtain the ground since December 15, 2005. Under a recent court settlement the City, who had previously deposited $1.68 million with the court, will now pay Amspec an additional $550,000. The remaining balance, approximately $2.77 million will be held until the property’s environmental issues are resolved. The property must be cleaned up at Amspec’s cost.
The City also owns Chatham Square, 100 apartments, Rt. 130 and Klemm Avenue, purchased last year for $4 million. The City wants to sell the site but does not want the new buyer to use the complex for apartments.
![\"Snow](\"https://www.gloucestercitynews.net/.a/6a00d8341bf7d953ef0105371a3c80970b-320wi\")
The vacant Amspec Chemical property on Water Street was purchased last month by the City of Gloucester City for $5 million. The 22 acres sits in the middle of two private owned plots of ground; on one side is the old NJ Zinc, Gulf and Western property of 120 acres, and on the other side is the former GAF property. click on photo