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Jefferson City opens call for interested parties who want to buy Capitol Avenue properties

KMIZ

JEFFERSON CITY, Mo. (KMIZ)

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

The Jefferson City Council voted at its last meeting to open this period -- which will last until Nov. 30 -- after a number of people spoke about the possibility of private investors wanting to buy the properties, if given the chance.

The 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 for repairing the properties enough to make them safe for living is $4,263,003.77. That total was determined to be a "conservative" amount, which was stated during the council meeting. 

Source: Jefferson City Council Agenda

The buildings have been declared dangerous buildings under the City Code and were ordered to be repaired or demolished. The property owner has failed to comply with these orders, so buildings are now subject to imminent demolition by the city because they present a clear and immediate danger to the public, code enforcement officials, and public safety officers.

If Jefferson City does not find anyone for those building before the Nov. 30 deadline, it will proceed with demolition, according to a press release.

In order for a party to qualify as an “Interested Party,” the potential buyer must sign a proposal guarantee agreement and deposit the listed escrow amount.

Source: Jefferson City press release

Escrow amounts will be held by the City’s director of finance and IT. Any interest accrued on the escrow amount will be retained by the City. If the "Interested Party" fails to submit a qualified proposal for Redevelopment in response to a City-issued request for proposals, the Escrow Amount will be forfeited to the City.

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

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

Those looking to buy more than one property have to submit a proposal and the listed escrow for each property.

A copy of the proposal prospective buyers are expected to fill out can be viewed below:

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Ryan Shiner

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