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Council authorizes city to bid at sheriff’s sale for 1601 Northmore Road; budget amendment approved amid council split
Summary
The council authorized the city manager to bid at a Sept. 24 sheriff's auction for 1601 Northmore Road and approved a budget amendment to fund purchase and due diligence costs; two council members voted no and concerns remain about timing of state grant funds.
The Peoria City Council on Sept. 23 authorized the city to bid at a sheriff’s sale for property at 1601 Northmore Road and approved a budget amendment to permit purchase and due-diligence expenses related to the land-bank acquisition.
Corporation Counsel Hayes told the council that the sheriff’s sale date on the agenda was corrected to Sept. 24 and summarized the city’s legal position: the bank holds primary debt on the property, the city intervened and perfected liens for stormwater fees totaling roughly $457,000 and the city’s lien position is senior to most other claims except the bank. Hayes said the bank intends to bid an amount “slightly more” than…
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