The city of Gillett will try to find buyers for five residential lots, the last it owns in the city, in the Ridgewood Heights Subdivision.
The Gillett City Council on Thursday unanimously agreed to place a notice in the Times Herald advertising the lots for sale.
The decision came one month after Mayor Irene Drake vetoed a similar agreement adopted by the City Council, 3-2, and two months after the council shied away from a proposal to sell the lots to a developer for $1 each.
Drake said the revised agreement includes an important provision not included in the original: the city may accept or reject any proposal. The city will consider a minimum of $4,950 for each lot.
Drake said she still has reservations about the agreement.
“I would’ve preferred to see the lots sell for more, because I do think they’re worth more than that,” she said.
According to information presented at the March 31 Planning Committee meeting, the assessed value of the lots is $14,000, and Drake said the lots will be assessed at this amount after they’re sold.
Before going public, city officials extended the offer to residents in the subdivision, and one resident submitted an offer to purchase a lot adjacent to his property for $4,950. The city has not yet acted on the offer.
The Planning Committee arrived at the sale price by halving $9,900, the most recent listed price for a lot. The city purchased the lots in 1991 and previously listed them with a real estate agent but attracted no interest.
The deadline for written offers is May 7, and homes are to be built within two years or the city will buy back the land for the purchase price.
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