MASSENA — The RACER Trust, which owns the former GM Site says potential sale of the property could create new jobs and increase the tax base in Massena.

“RACER Trust has reached an agreement for the sale of its former GM property in Massena, NY. We are not publicly identifying the buyer at this time. The proposed reuse would create significant new jobs and other benefits for the community, including a substantial increase in the tax base. While we understand and appreciate the community’s interest in the redevelopment and reuse of the property, it is important for competitive business reasons that we maintain confidentiality about the prospect and its proposed reuse of the property. We thank the community for its understanding and for its assistance in our marketing efforts to date,” RACER Trust said in a prepared statement.

Massena Town Supervisor Steve O’Shaughnessy said he’s excited about the prospect of development and jobs coming back to Massena.

“It’s going to be positive, I truly believe that,” he said. “It’s gonna be good for Massena. They’ve indicated that there is going to be good employment and a boost to the tax base,” he said.

The property has been vacant since 2009. Its closure cost the area one of its largest employers and a tank in property taxes.

The RACER Trust has been actively preparing the 217-acre property for redevelopment. Demolition of the former manufacturing building, removal of its large concrete slab and excavation of PCB-containing soils beneath the former slab has been completed.

According to RACER, its representatives are working closely with the North Country Redevelopment Task Force, local elected officials, the St. Regis Mohawk Tribe, the U.S. Environmental Protection Agency, New York State Department of Environmental Conservation and other stakeholders to identify potential future uses for the site that are consistent with the environmental cleanup being conducted at the site, and long-term stewardship.