Authority OKs land for city auction (complete article from source)
Source: DailyLocal.com
May 20, 2008
COATESVILLE — The city’s redevelopment authority unanimously voted at Monday night’s meeting in favor of including 12 authority-owned properties in the city’s public land auction on May 30.
The auction will list a total of 16 parcels for sale, and it will take place at 1 p.m. at City Hall. Bidders can also participate online through the auctioneer’s Web site, www.warnerrealtors.com.
The land for sale is a collection of non-contiguous, miscellaneous properties in the city, all of which were acquired during previous administrations. Some have structures built on them, while others are vacant lots.
Earlier this month Assistant City Manager Kirby Hudson said the properties are not essential to future development projects the city and they have become a drain on city resources to maintain.
But he said they could be valuable to a small developer or a neighbor in an adjacent property.
According to the broker’s list, the properties range in size from a 37,000-square-foot lot on the 200 block of Pine Street to a 780-square-foot sliver on the 200 block of West Diamond Street.
Bidding for most parcels starts at $1,000.
Anyone who purchases a property with a structure on it also agrees to demolish the building or make it habitable within one year of the sale, according to information about the auction provided by the city. Failure to do so could result in the reacquisition of the land by the redevelopment authority.
Also, winning bidders must be prepared to make a 10 percent deposit on the land on the day of the auction. And those interested in participating online must register with Warner Realty at least 48 hours before auction begins.
Join the discussion at the Coatesville Roundtable, http://www3.allaroundphilly.com/blogs/dailylocal/coatesville/blog.html.
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