The City of Utica will be holding a public auction for tax foreclosed properties

The City of Utica will be holding a public auction for tax foreclosed properties_5655273352212138391

The City of Utica will be holding its first public auctionsince 2009 on tax foreclosed properties.

Eyewitness News Reporter Jennifer Lee tells us when and howyou can place your bid.

“There are well desirable properties in the City of Utica.There are also some lots that i think that are very desirable,” said UticaMayor Robert Palmieri.

This Thursday night, the city will be holding a publicauction for tax foreclosed homes and lots for economic development.

“I’m looking to bring these homes back to where theycame from. I’m looking for people to reinvest into the city. It gives an opportunityfor someone to purchase a property probably a little less than market value,” explainedMayor Palmieri.

Mayor Palmieri says the city expects to rake in over aquarter of a million dollars which will go back into the city’s general fund.

About 20 properties in north and south Utica are up forauction and they will be sold to the highest bidder.

Although the city paid the back taxes on these properties, GeneAllen of the Urban Renewal Agency says to do your homework.

“Find out are there any other liens or encumbrances on theproperty. We sell them on an as is basis on a quick claim basis. We don’t makeany guarantees or warranties on these properties,” said Allen.

Before you head over to the auction, the city says to keepin mind how much you want to spend. People must put down a 20 percent depositin cash or money order at the time of the auction. The city has a right toreject any bid if it determines that it’s in the best interest of the city.

Bidding begins on Thursday at 7 p.m. at City Hall.For more information on the properties being auctioned off, click here.

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