Health & Fitness
Are taxpayers getting the best deal?
Why has the town accepted a $50,000 bid for a town-owned property that is worth a lot more? What ever happened to the plan to sell the property at a public auction?
Why is the town entertaining a $50,000 bid for a town-owned property that has the potential for being worth a lot more money? A lot more.
As far back as October, when the town foreclosed on 23 properties for failure to pay back taxes, the plan was to sell the properties the town didn’t want to keep, especially the five houses, at auction in order to get the highest possible price for the parcels.
But, as of January 28, a Freedom of Information request revealed that the town had already received bids for two of the houses. One, a $30,000 bid for a house on a one acre lot, and the second, the $50,000 bid for a house on a 4.81 acre lot.
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Auctions aren’t the only way to sell property — but widely publicized auctions are certainly more likely to attract more potential buyers than passively sitting back and waiting for people to walk into town hall and inquire about properties the town might be interested in selling.
Common sense tells us that more interest leads to more bids. More bids lead to higher bids. And higher bids end up generating more revenue for the town.
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At auctions, the bidding rules are clear and all potential buyers are on an equal footing. But what are the town’s rules regarding accepting bids? Are the bids open or sealed? Is there a deadline for submitting bids? Have minimum bid prices been established for any of the parcels?
The minimum price question relates directly to the $50,000 bid for the 4.81 acre parcel. In 2012, the parcel’s former owner met with the Planning Board to get feedback on a preliminary plan that would demolish the existing house and redevelop the parcel for four 2-family houses for a total of 8 living units. While the plan was never pursued, the Planning Board indicated that the concept plan had some merit and was consistent with the Comprehensive Plan.
Going forward, if anything close to the 2012 plan were to be approved, clearly the parcel would be worth a lot more than $50,000. A lot more.
Which is why taxpayers should want an open and transparent selling process that maximizes potential revenue for the town.
For more information about the disposition of the town-owned property and other town issues, visit www.yorktownbettergovernment.org
