[StBernard] St. Bernard Parish property auction nets about $1.2 million

[Westley Annis]

St. Bernard Parish property auction nets about $1.2 million

Print Benjamin Alexander-Bloch, NOLA.com | The Times-Picayune By Benjamin
Alexander-Bloch, NOLA.com | The Times-Picayune 
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on April 15, 2014 at 1:35 PM, updated April 15, 2014 at 1:37 PM

An auction of 134 residential lots in St. Bernard Parish that the state's
Road Home program acquired after Hurricane Katrina has netted $1.2 million,
parish officials said.  

St. Bernard Parish President Dave Peralta oraised the auction, held Saturday
(April 12), saying it "went off without a hitch with almost frenzied
bidding." St. Bernard government partnered with Ameribid, LLC, to host the
live auction of 136 residential properties, of which all but two were sold
at the event.

The state acquired about 4,500 lots in St. Bernard under the Road Home
program from homeowners who decided not to rebuild after Hurricane Katrina,
and the Louisiana Land Trust in turn sold about half of the lots to
neighboring property owners in what was dubbed the Lot Next Door program. 

But under the Lot Next Door program, properties could be used only as a yard
or for home expansion, such as a pool, garage or an attached guest house,
not for new home construction.

The Saturday event was the first time the parish held a completely open
auction on the properties, which sold to the highest bidder regardless of
price and without minimum bid requirements.

"This speaks volumes for the confidence that both local and out of area
residents feel about our community," Peralta said.

Fernando Palacios, a regional director for Ameribid, said the lowest price
of lots sold Saturday was $1,200 and the highest price was $60,000.

About 510 people showed up for the auction. The parish is expected to hold
two more auctions this year, although no timetable has yet been set,
Palacios said.