Declaration of Surplus Real Property for Public Auction
The Rogers City Council is moving forward with plans to declare certain properties in the Lexington Subdivision as surplus, paving the way for a public auction. These properties, which are no longer required for public use, will be made available for sale to the highest bidders through a public auction process.
In the resolution, the city outlined that the minimum sales price for the properties will be determined using a market analysis. All costs related to the publication, sale, market analysis, and closing will be covered by the buyers. This move allows the city to manage real estate assets more effectively while potentially generating revenue for other civic needs.
Key details:
Properties located in the Lexington Subdivision, Rogers, AR.
Minimum price determined by market analysis.
Costs of sale and closing to be borne by buyers.
The city aims to streamline public assets and resources through this auction process.
This auction is in line with state law under Ark. Code Ann. ยง 14-54-302(a)(1), which allows municipalities to dispose of unused property.
