Fulton Daily News
Fulton’s Home Rehab Experiment Makes Its First Sales, Turns A Profit
The city of Fulton’s first efforts at entering the real estate market have turned a profit.
The city this week approved the sale of homes at 470 S. 6th St. and 414 Park Ave. to new owners. (That’s the S. 6th St. home you see above.) The city seized the homes for having unpaid property taxes. Normally, local governments sell the homes at auctions, usually for the amount of taxes owed. But Mayor Ron Woodward had an idea: What if the city rehabbed the homes and sold them at market rates, just like any other homeowner?
Now, there’s an answer. […]
