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City briefs
City mulls
purchase of delinquent property
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[DEC. 1, 2003]
A recent auction of
delinquent properties has resulted in the city considering the
purchase a vacant lot. In mid-November the city's attorney, Bill
Bates, received a letter notifying the city of the sale of two
vacant lots at 805 and 901 N. Chicago St. This is the old Stetson
China site, located two blocks off Keokuk and Kickapoo streets,
beside the railroad tracks.
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As it turns out, the city has been
using one of these properties for stockpiling materials for years.
The new city streets superintendent, Tracy Jackson, is not certain
of when or how this arrangement came to be. He believes there was an
agreement or understanding with the past property owner. The city
has mowed and generally maintained the front portion of the area. It
has been a great central location with easy access that saves the
city street crews a lot of time. Jackson said, "That [location]
makes a short run for us."
In addition to convenience, it so
happens that the other city stockpile location, which is farther out
south of town on Kickapoo Street, is currently for up for sale.
The possibility of acquiring one of the
Chicago Street properties came to the city's attention because one
of the highest bidders is requesting relief from a lien the city
holds on that property for back taxes.
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article] |
The property the city uses sold for
$1,021 at a public auction of delinquent properties. The city's
portion of the back tax lien on this property is $30,778.
The other property that sold for
$10,000 has delinquent taxes of $51,933.65.
The city has several options, including
purchasing the property if the deal falls through with the new
owner. They can release the lien, share one-third in the purchase
price of the property or possibly purchase the property for as
little as $7,000 for themselves after paying one-third proportionate
shares to the county and to the delinquent taxation fees.
A
recommendation will be made by the finance committee based on Bates'
findings and communications with the other parties. It will be taken
to a vote at a later time.
[Jan
Youngquist] |
