Four tiny parcels of land left over from the new Interstate 74 bridge project in Bettendorf are being offered for sale online, with closing at 4 p.m. Thursday, April 2.
The parcels owned by the Iowa Department of Transportation, or IDOT, are what remains of all the property it bought to build the roads and ramps for the new bridge — the pieces it did not need and could not sell back, said Rick Skinner, production coordinator for the property management section in the IDOT's right-of-way bureau.
Iowa Code requires that the IDOT survey, appraise and then offer to sell back to the original owner at appraised value any of the tracts it buys for a road project that it does not need, Skinner explained.
If the former owner isn't interested, abutting property owners, the city and the school district are offered an opportunity to buy at appraised value.
Of the 27 parcels left over from the I-74 bridge project, 20 were sold to the original or abutting property owners, three are being held for possible use during the project (as a place to park a trailer, for example) and the remaining four are going to the online auction, he said.
Online, the tracts may be purchased for more or less than the appraised value.
"It's our intention to return as much (money) as possible to the state road-use fund," Skinner said.
The four parcels range in size from 0.04 acres to 0.23 acres and all are located between, or immediately next to, multi-lane roadways.
Although the company conducting the auction states in its flyer that the tracts could be used for commercial or residential building or for an advertising sign, Jeff Reiter, director of economic development for the city of Bettendorf, advises would-be bidders to check with the city first to see if their intended use would be allowed.
"Off-premise signage or advertising would not be allowed on any of those four tracts," he said.
The auction is being conducted by Peoples Co., based in Clive, Iowa. For more information, go to peoplescompany.com and look at listing No. 14863. Or, contact Matt Adams at 515-423-9235 or firstname.lastname@example.org
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