The city raised $67,000 through a public auction last week, exceeding the target of $42,000 that it had hoped to take in.
About 24 parcels of vacant, city-owned land were up for auction, and three-quarters of the properties sold, said David Panagore, the city's chief operating officer.
The parcels ranged from just over 1,000 square feet to nearly 20,000 square feet, and were valued from $5,000 to $90,000. About 30 people attended Thursday's auction at city hall, Hartford's first since 2001.
"[The] goal of this event was to help return property to the tax rolls and to encourage economic development," Mayor Eddie A. Perez said in a statement. "This is the result of a true public-private partnership and team effort."
The city saves money by no longer having to maintain the properties and ensures future revenue because the properties are returned to the tax roll.
Depending on the zoning for each parcel, the land may be used for building homes or businesses, among other things, Panagore said. He said he hopes that buyers will submit their development proposals within 30 days of the auction.
The city hopes to see "more private-sector activity, on-site construction and payment of taxes," Panagore said.
A few properties were taken off the auction list before the event. Community Health Services, a local group, offered to purchase two lots on Albany Avenue and another on Brook Street for $28,000 to put in a parking lot. Habitat for Humanity offered $7,500 for a Garden Street lot to build a house.
Due to the success of this year's auction, the city is considering holding another one next spring, Panagore said.
Reprinted with permission of the Hartford Courant.
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