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Sold!
The city netted a cool $214,000-plus from Friday's auction of city- and RDA-owned properties.
Assistant City Manager Kirby Hudson, who coordinated the auction, said afterward he was “delighted” with the results.
Assistant City Manager Kirby Hudson, who coordinated the auction, said afterward he was “delighted” with the results.
“And you can print that in capital letters,” Hudson said. “(The sale of these properties) alleviates the city from having to worry about the upkeep for these lots, keeping them free of trash and debris.”
Labels: real estate
posted by Daily Local at
10:29 AM
11 Comments:
Finally they do something right and sell some of the shacks they should not have bought in the first place. Let's see if the new owners keep their word and renovate them!
Well I'm glad they sold. and as for Kirby saying he was so glad the city didn't have to worry about the up keep of the properties anymore. Well that made me laugh has anyone seen these properties and their so called "up keep" that the city has been doing.
Now how long do these new owners have to start the renovations?
WILL THE MONEY BE GIVEN TO THE RDA TO PAY OFF THE DEBT OR WILL THE CITY KEEP IT?
The clock is ticking loudly on that RDA debt, less than 2 months to go until it is due! They will need a lot more loot than what they took in from the auction.
So Coatesville found owners for a few of its orphan properties. It's good that they're no longer publicly owned and 200k will probably do some good.
But not much. 200k is less than the price of a mediocre condo in most places.
Wouldn't it be cool if someday the Daily Local were to write a story like the following about Coatesville?
See, folks can do some good. If you have the right folks involved and the right opportunity.
http://www.nytimes.com/2008/06/05/nyregion/05mill.html?hp
The blogging software truncated the link in the last post. Here it is, on two lines:
http://www.nytimes.com/2008/06/05/
nyregion/05mill.html?hp
RDA loan is up in 2009 not this year
They should have sold them back when they were worth more.
June 5, 2008 9:24 AM - Coatesville isn't on the same level as that town the article mentions.
And trust me, you don't want to live anywhere near a paper mill!
to 9:30 am:
How do you figure that the RDA loan is up in 2009??? I did not hear that they refinanced it! it's up in a few weeks!!
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