Jefferson City opens call for interested parties interested in purchasing Capitol Avenue properties


A call for interested parties to purchase buildings – declared by an inspector to be unsafe and uninhabitable – is now open in Jefferson City.

The Jefferson City Council voted to his last meeting to open this period – which will last until November 30 – after a number of people spoke of the possibility that private investors would want to buy the properties, if given the chance.

Properties include: 109 Adams St., 113 Adams St., 401 E. Capitol Ave., 409 E. Capitol Ave., 413 E. Capitol Ave., 419 E. Capitol Ave., 429 E. Capitol Ave., 114 Jackson St., 410/416 E. Capitol Ave., 415 Commercial and 517 E. Capitol Ave.

The combined costs to repair the properties enough to make them safe for life is $4,263,003.77. This total was determined to be a “conservative” amount, which was declared at the board meeting.

Source: Jefferson City Council Agenda

The building was declared a hazardous building under city code and ordered to be repaired or demolished. The owner failed to comply with these orders, so the buildings are now subject to imminent demolition by the city as they present a clear and immediate danger to the public, code enforcers and law enforcement officers. public security.

If Jefferson City can’t find anyone for those building by the Nov. 30 deadline, it will proceed with demolition, according to a news release.

For a party to qualify as an “interested party”, the prospective buyer must sign a proposal security agreement and deposit the specified escrow amount.

Source: Jefferson City press release

Escrowed amounts will be held by the City’s Director of Finance and Information Technology. Any accrued interest on the escrow amount will be retained by the City. If the “Interested Party” does not submit a qualified redevelopment proposal in response to a request for proposals issued by the City, the escrow amount will be forfeited by the City.

If a bid is not accepted by the City Council, the escrow amount will be refunded. The escrow amount will be applied to the purchase price if the offer is selected.

Those looking to buy are not allowed to inspect the property before submitting the escrow or proposal.

Those looking to purchase more than one property must submit a proposal and listed escrow for each property.

A copy of the proposal that potential buyers are expected to complete can be viewed below:

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