At 9 a.

Thursday, April 06, 2000

At 9 a.m. Friday in the Ironton City Center lobby, city officials will auction property to potential home builders. The lots, located on McPherson and Orchard streets, come with a stipulation, however, Ironton Mayor Bob Cleary said.

"The lots on McPherson Street are appraised for $15,000 and the lot on Orchard Street is twice as large and only one lot, so it carries a starting bid of $21,500," Cleary said. "If a person purchases the lot, they must build a home that will have a value of $100,000 or more. If two lots are purchased for one home, it must have a value of $200,000."

The lots, parts of which currently house a neglected basketball court and small park area, will be divided in a way that will allow for a new public park, Cleary added.

Other planned improvements to the area include sidewalk repair, he said.

"One of the most difficult things to find in the City of Ironton is nice, new housing," he said. "This auction will facilitate the building of housing of this type and will develop into a very nice neighborhood and recreation area for the community."

Registration for the auction, which was approved by Ironton City Council last year after public meetings of council, finance committee and the public utilities committee, is scheduled to begin at 9 a.m., with the actual public auction beginning at 10 a.m.

"We will probably start with the Orchard Street property and see who is interested in bidding," Cleary said of Friday’s process. "We have an opening bid of $21,500 because this lot is twice as large as the other lots."

Bidders should bring more than just their checkbooks, however, Cleary added.

Cash on delivery in the form of a deposit is required to prevent auctioned property from returning to the auction block, he said.

"They have to have a $500 cash deposit if they win the bid," Cleary said. "If the winning bidder is unable to provide the cash deposit, the auction for that property will be repeated and a new winning bidder will be chosen."

The lots are located in an R-1 zone, which is a strictly residential zoning area and ideal for a new neighborhood such as this one is intended to be, Cleary said.

The auction is planned for the city center lobby and is open to the public.