The City of Marshalltown, Iowa, is accepting bids for the following described real property (“Property”) located in Marshall County, known as 407 Marion Street and legally described as the following: LOT 5 OF LOT 4 OF LOT ONE AND LOT 6 OF LOT 4 OF LOT ONE ALL IN THE NORTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SECTION 2684-18, MARSHALL COUNTY, IOWA.
The property is 137.7 feet wide by 231.4 feet deep. It is zoned as Medium DensityResidential. The property was originally gifted to the City in 1954 as a park. The City recently decommissioned this property as a park. All park equipment and items will be removed from the property, and the land is being sold in as-is condition with no improvements to be made by the City.
The Property is being sold with the sole purpose of encouraging new residential construction in infill areas. The Property will not be sold to increase an adjoining landowner’s lot size. This property has storm sewer and sanitary sewer infrastructure, as shown in the attached map. A structure cannot be built over the lines, and the City will maintain an easement. The buildable area on the lot is 127.7 feet x 196.4 feet. A new duplex or tri-plex must be built or moved onto the Property and made suitable for occupancy within 24 months of closing. Extensions to this time limitation may only be granted by specific permission of the City Council.
There is no minimum sales price for the lot. The City has a residential tax abatement available on new construction on a 3, 5- or 10-year sliding scale. If the units to be constructed meet the requirements of the Make Marshalltown Home program through the Marshalltown Area Chamber of Commerce, the owner can elect to take the $10,000 cash incentive in lieu of the tax abatement. If these units will be rental properties, they must be registered through the City of Marshalltown rental program.
Bids must be submitted on the bid form provided in the bid packet to the City Clerk, City Hall, 24 North Center Street, Marshalltown, Iowa. Please visit our website to review the full bid documents. You must register your email address to access the documents. https://www.marshalltown-ia.gov/Bids.aspx