The Kodiak Island Borough is putting up for auction almost a half-million dollars of borough-owned land on Saturday. Bob Sholze in the borough manager’s office said interest is high:
“This will be the first borough outcry auction land sale since 2005. We have eight parcels – one is in Monashka Bay, five are in Womens Bay area and two are out in Chiniak.”
All eight of the parcels are zoned Rural Residential, meaning they will require the new owner to install a well and septic system, and they are all at least one acre in size:
“We only have one that’s actually large enough to be further subdivided, and that’s Tract A Raven Hills Subdivision in Monashka Bay. That’s 5.6 acres and can be subdivided into three parcels if the buyer would choose to do that, and there’s certain restrictions on that. And that one’s really generated a lot of interest just because it’s close to town and is a large parcel.”
Unlike many government auctions, Saturday’s sale will not be via sealed bid:
“Nope, it’s outcry. It’s just like your county fair, except we won’t have any pigs or steers. It should go hopefully quickly, rather quickly and smoothly. It’ll be pretty straight forward.”
Sholze emphasized that the 10-percent down payment required from the buyer at the close of bidding must be via money order, certified check or cash, and that personal checks and credit cards cannot be accepted.
The minimum price of the lots range from $40,000 for one of the Chiniak parcels, to $90,000 for the largest parcel in Monashka Bay.
Sholze encourages anybody with questions to give him a call in the borough manager’s office. Bid packets are still available at the borough building, and will be available at the auction. Registration begins at noon Saturday in the borough assembly chambers, with the auction beginning at 1 p.m.
Borough Putting Eight Rural Residential Lots on the Block