If it's in the form of a loan from the village, it is, as a long-term practical matter, private money.
Or would you rather see the money going down the proverbial drain, never to be seen again, in a demolition.
If the village spends $200K on demolition, there is never any recovery of the expenditure. The property becomes a vacant lot in need of expensive environment remediation. And so long as the village owns it, it's not generating tax revenue.
So which approach is the real waste of taxpayer money?



Only as long as all money comes from private means. NO GOVERNMENT MONEY AT ALL!