The City of Logan held a public auction Mon., July 21 at 10 a.m. for those interested in purchasing the Parking Garage located on Main Street. The meeting also doubled as a special City Council meeting because the potential buyer must first be approved by Council before the process can continue.
No bidders were present for the meeting.
The city had made stringent requests for potential bidders. The minimum bid that for the building was set for $50,000.
The bidders were also expected to agree to two terms before they would be granted the building: to pay for preparations of deed, abstract and any and all costs associated with conveyance and to keep at least 100 of the 142 parking spots to be used for public parking and open to the public for a period of 20 years.
On top of that, $25,000 cash in hand was required at time of the sale in the form of a certified check or cashier’s check made payable to the City of Logan and the balance in cash in the form of a certified check or cashier’s check at the time of closing, which closing shall be held within 30 days of the day of sale or sooner.
Considering the two parcel building, which the City of Logan has owned since 1964, was purchased for well over $100,000, the minimum bid is quite low.
Because no one bid on the building with these stipulations, the council is now open to negotiations with potential buyers.
Mayor Serafino Nolletti said that many potential buyers have contacted him about the building. He and most other city employees seemed optimistic about the outcome, saying this bidding stage was only Plan A; now it’s time to move to Plan B.
However, Nolletti has one stipulation he may not be so lenient with when it comes to negotiation.
“I would definitely like to keep it a parking building,” Nolletti said. “It’s very much needed. There’s 142 spaces in it and it was practically filled up every day.”
The reopening of the parking building would not only be a blessing to citizens living in town, but also to local businesses. More parking spaces would allow them more traffic and exposure. Many citizens who refuse to travel downtown because of the lack of parking would then have more initiative to visit the local small businesses located along Main and Stratton Streets.
Nolletti encourages anyone interested in the building to contact him at City Hall, 304-752-4044.