Joseph Spero, bankruptcy trustee for the Greater Erie Industrial Development Corp. (GEIDC), is seeking the approval of U.S. Bankruptcy Court Judge Thomas P. Agresti to sell more than 65 acres held by GEIDC to the Enterprise Development Center of Erie County for $800,000. The Enterprise Development Center is a nonprofit economic development organization led by Rick Novotny, who is also executive director of both the Erie County Redevelopment Authority and the City of Corry Redevelopment Authority. The organization plans to buy the property, address some environmental problems related to iron contamination and then sell it to SB3 LLC, which is owned by Erie businessman Samuel "Pat" Black III, owner of Hero BX biodiesel plant, Novotny said. If approved, the GEIDC sale would retire a $738,000 lien held by the Commonwealth Financing Authority. Proceeds of the sale would also be used to pay the current real estate tax bill as well as a $35,000 delinquent tax bill.
