City approves sale of Jolly Addition Lot 2; staff to continue marketing remaining lots

The Vermillion City Council on Aug. 4 approved the sale of Lot 2, Block 1 of the Jolly Addition to Angela Anderson for $36,784 and authorized the city manager and finance officer to execute the deed contingent on closing on or before Sept. 30, 2025.

City staff said the city declared Lots 1–13 surplus and had the parcels appraised; appraised values ranged from $28,000 to $30,000 depending on size and location. Terms require the buyer to pull a building permit by March 1, 2026 and begin construction by June 1, 2026; if those terms are not met the city may repurchase the property at 75% of the purchase price under the warranty deed.

Staff noted Lot 2 is served by city utilities; other lots along Linden Avenue still require utility construction, which the city will complete no later than Sept. 30, 2025. Nick Slattery of AMS Building Systems asked whether the city would accept contingent offers to reserve lots while builders complete house plans; staff said the city now has additional latitude after declaring the lots surplus and setting prices and can accept contingent offers or hold lots for a period (for example 60 days) subject to council approval and statutory limits (a bid must be at least 90% of appraised price unless otherwise approved). The council voted to approve the Lot 2 sale by voice vote.