The Mount Vernon Real Estate Committee said on July 31 that an administrative review of bids for five city properties uncovered documentation gaps and time‑sensitive proof‑of‑funds issues, and the committee planned a special follow‑up meeting rather than approving any dispositions.

Committee staff reported they reviewed in‑person and online submissions for 224 North Seventh, 529 East Third, 234 East Fifth, 106 Hillside Avenue and 52 Mezzerim. The comptroller’s office said its review checked whether each bid included a specific offer and proof of funds; reviewers found a mix of raw bank statements, stamped bank documents, and preapproval letters, some of which covered multiple properties or had expired.

“My office would take the administrative responsibility of going back and looking at all of the submissions… and that the goal for that review was just to review it from a standpoint of whether or not those bids were complete,” the committee chair said while summarizing the review. The chair said several proposals lacked the certified proof of funds the committee required and that some bids were below assessed value.

Committee members raised procedural questions about how to treat preapproval letters that cover multiple properties, whether preapprovals remain valid for the charter’s 15‑day payment window, and whether certain items require legal advice in executive session. The chair suggested convening a special meeting with a fuller board and possibly moving into executive session to resolve legal questions.

A committee member described the types of proof submitted: “We got bank statements that just show how much money the bidder had… we got some bank statements… that have a stamp on them from the actual bank… and then the other question is… we also got some that submitted preapproved loans documents.” The chair and staff recommended updated proof of funds where documents are time‑sensitive.

The committee also heard an update that the city moved forward with its tax‑lien sales process: the first tranche of roughly 100 properties produced some tax lien certificate sales and the next tax‑lien sale is scheduled for September; staff said they will publish the required 30‑day public notice once a date is set.

No final property dispositions were approved July 31. The committee agreed to schedule a special meeting to include absent members, to request updated proof‑of‑funds where necessary, and to consult legal counsel about how the charter’s deadlines and city procedures affect candidates with preapproval letters. The chair said the comptroller’s office will provide further reporting once legal questions are resolved.

At the start of the meeting the committee approved minutes from the June 4 meeting; the committee adjourned at 3:10 p.m. and said it will publicize the special meeting date when set.