A single family home in one of Kodiak’s oldest residential areas and one other foreclosed property within the Kodiak Island Borough will be auctioned off via sealed bid to the public at an undetermined date.
The property on 214 Maple Avenue, which is going up for auction, was built in 1951 as part of what’s known as the Aleutian Homes subdivision. The assessed value of the roughly 8,225 square foot lot is $264,500. This residence, and the majority of the hundreds of other Aleutian Homes, were originally built as military housing.
The other property that will be auctioned off by the Borough is a roughly 4-acre vacant parcel in Ugak Bay, specifically in Shearwater Bay with an assessed value of $5,700.
At a Borough Assembly meeting last month on Sept. 18, Finance Director Dora Cross explained what the borough’s interest is in these foreclosure sales.
“These are foreclosed properties, because anything over tax amount is refunded to the prior owner. And so I’m only interested in getting what’s owed on our taxes for the taxpayers benefit," Cross said.
Those back taxes, plus the borough’s costs for putting on the sale, sets the minimum bid for the Aleutian Home property at roughly $11,500 according to the borough. Any excess earnings go back to the former property owner.
Last week on Oct. 2, the Kodiak Island Borough Assembly unanimously approved an ordinance to sell them through a sealed bidding process.
If the properties don’t sell, they may be listed online for sale at the minimum bid.
Cross doesn’t know how long it will take to set up the sale. But more information about the sealed bid auction will be available online in the coming weeks to months.
Interested bidders can sign up for the “Notify Me” alerts on the land sale notices from the Kodiak Island Borough’s website.
