The city of Spokane is auctioning off three pieces of land including several acres near Northpointe Plaza worth at least $1.75 million.
An informational meeting on the surplus land sale takes place today at 9 a.m. in the second-floor conference room of City Hall, 808 W. Spokane Falls Blvd.
The sale includes:
An 11-acre commercial property at 300-500 E. Holland Road.
“It’s the biggest vacant piece of land we’ve ever sold,” said Dennis Berringer, city real estate director.
The minimum bid on the land that once was home to a sewer lagoon is $1.75 million.
The city’s Wastewater Treatment Department owns the land, and money from its sale will go toward expansion of the treatment plant.
A 17,300-square-foot commercial property at 100 E. Mallon.
The minimum bid on the vacant parcel is $35,000. Money from the sale will go into the city’s general fund.
A two-story, four-bedroom home with an extra lot at 709 E. Indiana.
The minimum bid on the home and lot is $79,950. Money from the sale will go toward the Indiana Street widening project.
Acting City Manager Bill Pupo said money from the sales of surplus property are returned to the city accounts that originally bought the land. That’s why the money can’t be used for other projects like street repairs.
Bid packets can be picked up on the second floor of City Hall in the Real Estate office.
All sealed bids are due by 3 p.m. on Nov. 21.
sponsored Jargon is confusing, by definition. And the financial world has its own set of cryptic words.