December 16, 2009

News Release

For Immediate Release

Surplus Property Group 4 Offered for Bid

The City of Springfield is now accepting sealed bids on the fourth group of surplus properties being offered for sale.

The fourth group has eight parcels being offered for bid. Several of these parcels were included in the second group, but did not receive any acceptable bids.

Bids will be accepted until 3 p.m., Tuesday, Jan. 12, 2010.

In an effort to increase the number of acceptable bids on these properties, the City is including some new steps with this group. Each of the parcels will include a reserve price to give bidders a better idea of what the City will accept. The reserve price does not necessarily reflect market value of the property. The reserve price will reflect the amount the City needs to receive in order to cover its costs for the property and pay off any expenses associated with offering the parcel for sale, such as getting a clear title on the property.

The City also will put “For Sale” signs up at each of the properties and send notices to potential buyers, such as developers who specialize in affordable housing who may be interested in the single-family lots, for instance. These steps can be done at minimal internal expense because there was no budget for advertising or marketing allocated to the surplus property disposal program.

The properties listed in Group 4 are:

The complete bid document is available on the City Web site – www.springfieldmo.gov – in a special section on the homepage that also includes a link to the interactive map and other material related to the surplus property sale.

Potential bidders also may contact the Purchasing Department at 864-1620 for additional information.

Net proceeds from the sale of the properties will be returned to the fund from which each property was purchased, up to the amount of the purchase price. The City Council has stated its intent to put any additional proceeds from the sales into the Police-Fire Pension Fund.

For more information, contact: Louise Whall, Director of Public Information, 864-1010.

city of springfield

Department of Finance

840 Boonville Avenue • P.O. Box 8368 • Springfield, MO 65801
417-864-1625 • Fax: 417-864-1880 • springfieldmo.gov