City Council is moving forward with the acquisition of three flood-prone residential properties on West Grand Avenue through state and federally-funded programs.
The governing body introduced an ordinance (O-17-14) at its June 11 regular meeting that determines “it would serve a public purpose to acquire” 194 W. Grand Ave. The ordinance will come up for a public hearing and final approval at the regular/pre-conference meeting on July 14.
194 W. Grand Ave. (Block 161, Lot 35) has an assessment of $127,200, for a property tax bill of $7,692 this year. The most recent sale was in March 2006, for $365,000, considerably up from the $260,000 it went for in September 2004, according to property records.
The acquisition of 182 W. Grand Ave. (Block 161, Lot 37) closed in September for $147,800 and the state DEP now is listed as the owner, according to property records. The parcel previously changed hands in 2002 for $157,000. It had been assessed at $92,300, for a property tax bill of $5,581. The third property is 188 W. Grand Ave. (Block 161, Lot 36) and has an assessment of $125,700, for a property tax bill of $7,601 this year.
The acquisition of 188 W. Grand is pending environmental and financial action, according to City Administrator Cherron Rountree, while 194 W. Grand is pending bank approval on the appraised offer so a sale price has not been determined.
All three properties were or will be acquired with federal money, administered through the state: 182 and 188 through Blue Acres and Green Acres and 194 through Department of Community Affairs and Community Development Block Grants, which City Council applied for last year and was awarded $409,985 in April.