Another city of Fulton home is making a comeback.
A home at 151 W. 4th St. S. is the latest to be seized by the city for non-payment of taxes, rehabilitated, and offered for sale by the Fulton Community Development Agency.
“They have a buyer now,” said Mayor Ron Woodward Tuesday night as the Fulton Common Council agreed to transfer the property to the Fulton Community Revitalization Corporation, a necessary step towards selling the home to a private buyer.
The sale is part of Woodward’s strategy for dealing with properties the city is forced to seize. Normally, the homes are sold at an auction for the amount of taxes owed on the property. But Woodward is instead using a mix of city employees and outside contractors to repair seized homes, which are often in poor condition, and sell them at market value. If the plan works as he hopes, the city will turn a small profit on each sale and use the proceeds to fix up and resell even more homes.
The repair work also offers an opportunity for the city to turn two- and three-family homes back into single family homes.
A few properties are rented by the city, including a two-family home that was seized from an out-of-town landlord which was occupied by two elderly women. The city also leases a piece of prime real estate, at the corner of Routes 481 and 3, to a used car dealer while it continues to seek offers to buy the land at market rates.
The city is rehabbing several homes this summer.
151 W. 4th St. S. sits on the corner of Kellogg St. It’s an old house — county property records show it was built in 1870. It’s a single family, two-story home on an average-sized city lot. The property’s total assessed value in 2007 was $43,000.
“It is so helpful to the city,” said alderman Tom Kenyon of the city’s efforts. “You’re gonna see a lot more of it.”