City Taking Sealed Bids for Surplus Property
By West Kentucky Star Staff
PADUCAH - The city of Paducah is selling some surplus property.

In a city press release, they say sealed bids will be accepted on 30 parcels of land until 4:00 pm on April 29. The properties are in seven different neighborhoods.

Blue and orange signs have been placed on each property to share information on how to get involved in the bidding process (see accompanying photo).

Planning Director Tammara Tracy says, “There are some great opportunities in this pool of properties for those willing to invest time, energy, and/or money. The market for housing under $199K is hot, which means a good quality home can be a great money maker."

She stressed that homes are their objective for selling the properties.

"We want new homes on vacant lots and existing properties to be rehabilitated. This helps neighborhoods, surrounding property owners, and the city in general to be full and active," Tracy said.

She said there are a variety of reasons why the city owns these properties: donations, death of the owner with no heirs, or code enforcement action due a dilapidated building which has since been removed.

All bids must be submitted in a sealed envelope clearly marked "Sealed Bid" with the address of the property on the outside. If someone is interested in submitting a sealed proposal for more than one property, they must be done separately.  

Proposals can be mailed to:
City of Paducah Planning Department
City Hall
P.O. Box 2267 
Paducah, KY  42002-2267

Proposals will be opened April 29 at 4:15 pm in the Commission Chambers on the second floor of City Hall. The City of Paducah reserves the right to reject any or all proposals submitted. 

The lot dimensions, zoning information, and an aerial map of each piece of property are available on the City’s website at (see link below).  Also, there is a form on that page that must be submitted with each property proposal. 

Evaluation of the bids will be based upon the following considerations equally: priority to adjoining property owner; priority to owner occupancy; level of investment; Comprehensive Plan compliance (highest & best use); and the bid amount.  

To be considered for these properties, bidders must be current on their city taxes and have no existing liens on any property currently owned in the city.    

Proposals must include at a minimum the following information: 

• Purchase price offer for the property (minimum offer considered is $325);

• Intended use of the property;

• Detailed construction or rehabilitation plans. All changes and improvements necessary both to meet code requirements as well as to provide for the intended use must be specified and detailed;

• Estimated firm timeline indicating the duration of the project from start to finish; and

• Proof of financial ability to complete the project in an amount matching the estimated costs. Proof must be in the form of a letter of credit, loan commitment, proof of cash on hand, or some other proof of financial ability acceptable to the City. Grants or special financing must be listed but cannot count toward financial ability unless a copy of the award notice or other acceptable guarantee is provided.

For additional information, please call the Paducah Planning Department at 270-444-8690.  

On the Net:

City of Paducah Surplus property website page

Published 04:45 AM, Saturday Apr. 06, 2019
Updated 10:35 PM, Saturday Apr. 06, 2019

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