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Board approves auction sale of old conservation building; appraisal $190,000
Summary
The board approved selling the old conservation building by public auction after hearing the appraisal of $190,000, an $800 appraisal cost and an auctioneer commission proposal of 2.5%. The public hearing closed with no in-room public speakers.
The Madison County Board of Supervisors voted to sell the county’s old conservation building via public auction after the chair summarized the required sale steps and the appraisal results.
The chair told the board the building appraised at $190,000 and the appraisal cost was $800. Because the county did not secure auction services pro bono, bids for an auctioneer were solicited and the recommended auctioneer would receive a 2.5% commission on the final sale price. The chair also noted that the reserve was set at the appraisal level so the county is not supposed to accept a sale below appraised value.
The public hearing was opened for comment and the chair called the phone line; no additional comments were made in-room and the hearing was closed. Later in the meeting, the board moved and carried a resolution to proceed with auction sale of the building.
Next steps: county staff will finalize auction terms, publish notices required for public auctions and work with the selected auctioneer to schedule the sale.
