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CIC executive committee approved acquisition and disposition of 231 East 238 to Magus LLC for $3,500
Summary
The CIC's executive committee approved acquisition and disposition of a tax-foreclosed property at 231 East 238 and recommended sale to Magus LLC (AJ Denunzio) for $3,500, citing urgent repairs and poor condition.
The Community Improvement Corporation's executive committee approved acquisition and disposition of the property at 231 East 238 following tax foreclosure and authorized a transfer to Magus LLC (AJ Denunzio) for $3,500.
Staff member (S2) told trustees the property was in "particularly tough shape" and required immediate attention after foreclosure. "The executive committee approved acquisition and disposition, for $3,500," S2 said. The committee's action was framed as a way to move the property from tax-forfeiture status into a redevelopment pathway quickly.
The report described the property as needing immediate attention and said the acquisition followed city foreclosure procedures. No further board-level action on the disposition was recorded at this meeting; staff indicated they would proceed with the steps required to transfer the property to the developer and finalize any agreements.
