New properties up for auction in New Orleans

New properties up for auction in New Orleans

NEW ORLEANS, LA. - Blighted properties and overgrown vacant lots can be seen in neighborhoods across the city. But now, New Orleans is starting a new process to unload properties that have not sold in other auctions.

The city is looking to make over 185 properties available for auction in a continued effort to reduce blight. The properties were previously offered in tax sales, but there were no bidders. It will be the first time the properties will be offered with full titles.

Investors can bid on the new properties as well as any of the 900 other properties listed on Civicsource.com by placing an $850 deposit.

Once legal work is completed, properties will be scheduled for the next available auction, which takes place online the first Wednesday of each month.

The city has scheduled meetings to allow residents and investors to learn about the program. The next meeting is scheduled for Wednesday, August 2, at 6:30 p.m. at the New Orleans Public Library on 219 Loyola Avenue.

Since 2015, the city reports that it has returned 770 properties to commerce and brought $14.5 million through its adjudicated property auction program. Most of those properties are located in the Lower 9th Ward, an area that has struggled to return after Hurricane Katrina.

 

© 2017 WWL-TV


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