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Troy finance committee lets CIC pursue purchase of deteriorated downtown building, orders inspections and report back to council
Summary
The finance committee authorized the Community Improvement Corporation (CIC) to pursue a contract to buy a condemned downtown property offered by an absentee owner, but members required due diligence, structural inspections and a report back to city council before any demolition or final city funding.
Troy Finance Committee Chairman Todd Seivert said the committee would consider allowing the Community Improvement Corporation to seek purchase of a downtown building offered by an absentee owner, but he and other council members demanded inspections and a council review before any demolition or final funding.
"This property has been a troublesome property for us, property maintenance wise," said Mr. Davis, the staff presenter, describing multiple code-enforcement cases dating to 2017 and court actions in 2023, 2024 and 2025. The property has been declared a public nuisance, Davis said.
City staff said the California-based owner contacted the city after receiving a civil-penalty order and asked whether he could sell the property to satisfy outstanding litigation. According to staff, the owner proposed a sale price that the city would consider a…
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