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Approval of the Sale of River Bend Metal Building (127 Livingston Rd.)
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SUMMARY: Marcka Auction Services (MAS) has proposed to auction the old River Bend Metals red iron building at a live auction. The building is located at 127 Livingston Road is 60 feet by 100 feet. The City will be responsible for advertising in the newspaper and MAS will provide flyers and advertise online. MAS has proposed a fee of 10% buyer’s premium or if the buyer’s premium is below $1,500 the city will pay the difference between the buyer’s premium and the $1,500.
Staff recommends the live auction because the sale will be higher than a sealed bid.
BUDGET ACCOUNT:
Recommended Action
NECESSARY COUNCIL ACTION: Approve the sale of the building with a live auction and approve the proposal from Marcka Auction Services.