Elizabeth Daigneau is GOVERNING's managing editor.
E-mail: edaigneau@governing.comTwitter: @governing
Idea Center
Property Blitz
State highway property sales bring in extra funds for road and bridge projects.
Selling any kind of property in this economic climate is a challenge. That's why a recent property sales blitz by Missouri's Department of Transportation is generating so much interest. Missouri officials found that selling properties in a concentrated block rather than one parcel at a time was more effective in attracting investors and generating revenue. The five-day sales blitz in November, dubbed Realty to Roads, brought in more than $675,000 for road and bridge projects in the state. All but four of the 21 properties -- which had been identified as highly marketable and no longer needed by the department -- were sold either by auction or sealed bid. The event was so successful that a second sales event has been scheduled for April 26-30. The department will list 32 properties, ranging from a quarter-acre lot to a 200-acre plot of land.
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