Lockport Union-Sun & Journal — Forty properties are up for grabs at the City of Lockport’s annual tax foreclosure auction next week.
On the block at the 6 p.m. Tuesday auction at City Hall are 20 single-family homes, 10 multi-family homes and 10 vacant lots, including a commercial lot on Davison Road.
The 2011 city auction grossed $304,000, from the sale of 21 properties. City Treasurer Michael White declined to guess whether this year’s gross will be under, over or on par with that, but he did identify six “lookers” on the sale list, residential properties that are most likely to generate bidding interest. They are:
• 107 Trowbridge St., a single-family ranch home with an attached garage, a shed and a pool, on a half-acre lot. Its assessed value is $70,700.
• 349 North Adam St., an old-style single-family home with a covered porch, detached garage, shed and above-ground pool. Its assessed value is $51,400.
• 37 Center St., an old-style, two-family home on a half-acre lot, assessed for $32,400.
• 131 Olcott St., a single-family Cape Cod assessed for $53,700.
• 244 Caledonia St., an old-style single-family home with covered porch and two-car carport, assessed for $53,300.
• 263 Locust St., a three-family home built in 1840, with a covered porch and a detached garage, assessed for $112,800.
At the auction, the city will announce a new housing improvement “incentive” aimed at auction property buyers who commit to converting a multi-family home back to single-family use, or owner-occupying and improving a multi-family home.
The incentive consists of a low-interest loan and a “deferred” loan, which would become a grant if the owner fulfills terms of a property improvement “work plan” hashed out between the owner and city Community Development staff, R. Charles Bell, director of planning and development, said.
The loan money originates from a federal Community Development Block Grant and can only be spent certain ways, on housing rehabilitation in low- to moderate-income neighborhoods, Bell said.