City to Bring in Broker to Sell Main St. Properties

City officials agreed Monday to circulate a Request for Proposal to the development community with hopes of hiring a broker who will market and sell two downtown properties at 109 and 111 North Main Street for development.

The City acquired the two commercial properties through a condemnation proceeding in November 2006 for $300,000 and $350,000 respectively. City Manager Donald Rose said Monday that the City acquired title on the properties at a time when the real estate market was at a decline. 

However, he said that now may be a better time to market the properties. "There are a number of things happening that gives us maybe a little hope that things are going to start to get better.

"People are looking at a number of properties ... there seems to be some level of interest ... A commercial broker will help get these sold and back to use and back on the tax rolls," Rose said.

Together, the properties total 5,500 square feet. The property at 109 N. Main Street is a two-story commercial building containing approximately 3,000 square feet. The two-story building at 111 N. Main Street is a mixed-use building, measuring approximately 3,200 square feet, with commercial space on the ground floor and a second floor residential unit. 

Kozik said that terms of the sale of the property—or a development agreement—would include a take back provision, "if nothing happens in terms of getting the property ready for occupancy."

Councilman John Routledge said he'd been through the properties and that they seem to be "salvageable," and of value. 

Kozik said the properties are in "rough shape," and that any use of the properties would require rehabbed electrics, plumbing and heating, ventilation and air conditioning.

The City will distribute Request for Proposals Wednesday, Sept. 14 and allow an opportunity to visit each property once at the end of the month. Proposals will be due Friday, Oct. 14 and the will award a contract Monday, Nov. 7.