BEACON FALLS — The town is moving forward with including a 135-acre parcel of land in its own auction after the property didn’t sell at a separate auction earlier this month.
The property on Bear Hill Road is owned by Point Center Financial, Inc. The town is owed $165,448 in back taxes on the land, according to Tax Collector Maryann Holloway.
AuctionAdvisors, a New York-based real estate auction company, planned to market and sell the residential development site at an online-only auction on Sept. 17. It was set at an auction reserve price of $199,000.
However, the property didn’t sell during that auction, First Selectman Christopher Bielik said.
Bielik said he was unsure if the property received any bids at all, just that there were no bids high enough to sell the property.
Oren Klein, managing partner of AuctionAdvisors, said via email last Thursday, “We do have a contract out on [sic] Beacon Falls property but still need to wait before we can release any details on the transaction as per the request of the seller.”
Since the property didn’t sell, it will be included in the town’s tax auction Oct. 9 with several other properties.
State Marshal Arthur Davies said the town plans to ask $170,000 for the land.
“The property is seriously delinquent,” Davies said.
In additions to the property on Bear Hill Road the town will auction off 61 Lancaster Drive and 3, 5 and 7 Havilland Drive, 280 Lopus Road, along with 251 and 253 South Main St. Delinquent taxes are owed on each property.
The land on Bear Hill Road initially sold in 2007 for $2.8 million and was supposed to become a 275-unit active adult residential community. However, when the recession hit, the developer was unable to build and later declared bankruptcy.
Bielik said no matter who holds the property, the town is first in line to be repaid the outstanding tax bill.
The town last held a tax auction in 2011. Four properties were up for sale, Bielik said.
“The net worth was $200,000. All of the properties sold, so town received 100 percent of what was owed,” Bielik said.
Bielik said the town plans to follow the same procedures and hopes to achieve the same results.
