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Buchanan approves sale of four city-owned lots to Strong Construction LLC
Summary
The city approved sale agreements for four tax-acquired lots to Strong Construction LLC and authorized the city manager and attorney to finalize documents; two homes are to begin before year-end and two by July under the agreement.
The Buchanan City Commission voted June 22 to approve purchase agreements selling four city-owned lots to Strong Construction LLC and authorized the city manager and city attorney to complete necessary closing documents.
The four parcels and contract prices discussed at the meeting were listed as 41 Elizabeth Street for $7,100; 416 Bluff Street for $6,300; 418 Bluff Street for $6,300; and 1104 Victory Street for $7,500. The sale agreement calls for construction to start on two of the homes before the end of the year and on the other two before July (timeline in the agreement).
A commissioner moved to approve the purchase agreement and to authorize the city manager and city attorney to finalize documents. A speaker noted that the majority of the city’s property holdings were acquired through unpaid taxes and argued sales of tax-acquired lots do not spread costs across the broader community.
"When these come off the tax, they do not impact the rest of the community," a city official said during the discussion, explaining why the city acquires and clears lots for development.
Supporters said selling and developing tax-acquired parcels attracts builders and helps improve neighborhoods. One commissioner said he opposed city ownership of a large real-estate portfolio in principle but supported these particular sales as a path to return properties to private ownership.
The commission approved the motion and authorized the city manager and attorney to execute the necessary documents to finalize the sales.
