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Online auction yields $2.09M top bid for 10-acre Redberry parcel; staff seeks authorization to sell and reinvest proceeds in nearby parks
Summary
Real estate manager Lisa Davis told council an online auction for a 10-acre city parcel on East Redberry drew three registered bidders, 56 bids and a highest bid of $2,090,001 (Reserve 100/Blandford Homes). Staff said proceeds, including the original 2003 bond purchase, are expected to be reinvested in parks adjacent to the site.
Lisa Davis, the city's real estate manager, summarized results of an online auction for a 10-acre city-owned parcel at 8130 East Redberry and said staff will seek authorization to proceed with sale paperwork at the upcoming council meeting.
Davis said the site was purchased in 2003 for $630,000 with voter-approved bond funds and later annexed. The property was appraised at $1,550,000 and the auction (31 minutes, 56 total bids) produced a highest offer of…
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