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NF Home Ownership Auction Slated for April 14th

The Niagara Falls Community Development Department is hosting a Home Ownership Auction of twenty city owned properties on Thursday, April 14, 2016. This is the department’s third home ownership auction since 2013, and the largest to date. The auction has been a tremendous success and has continued to be refined for an even better streamlined process. According to Seth Piccirillo, the Director of Niagara Falls Community Development, the Niagara Falls Home Ownership Auction is specifically marketed to homeowners looking to renovate and live in the properties as opposed to the traditional tax foreclosure auctions which are often investor driven. Potential bidders also have the opportunity to walk through the houses and view a full code violation report prior to the auction date.

The following guidelines drive the Niagara Falls Home Ownership model:Auction Flyer

  • Successful bidders must agree to own and live in the home as prime occupant for no less than five years.
  • Successful bidders must agree to renovate the property to municipal code compliance within 12 months of purchase, unless an extended time period is designated.
  • Successful bidders must submit a renovation plan, designating work to be completed by the owner and/or contractors, as well as financial ability to execute the renovation prior to completing the sale agreement with the City of Niagara Falls.
  • Successful bidders will pay the 2016 city, county and school district taxes for the property at the time of purchase.While successful bidders do not take ownership on the day of the auction, they must provide a $500 bidder bond to the City of Niagara Falls, to be returned upon successful renovation, and 10 percent of the final bid amount on April 14, 2016 to cover the auction’s cost.

“Our home ownership auction is not a one day event. We are creating a path to home ownership, from the first property walk through to the final day of the home’s renovation,” said Seth Piccirillo, Director of Niagara Falls Community Development. “We want to help people make a home in Niagara Falls and for them to build real equity in the process.”

The list of houses to be auctioned and a full informational packet is available online at www.nf-cd.org (Director’s Update Section) as well as paper copies at The Carnegie Building, 1022 Main Street, Niagara Falls, NY. The City of Niagara Falls took ownership of these properties due to tax foreclosure, and created the Home Ownership Auction as an alternative to the annual IN-REM tax foreclosure auction. The houses selected for the Home Ownership Auction are mostly single family residences that can be responsibly renovated within a year.

The Niagara Falls Community Development Department is hosting the following informational sessions to ensure that the community understands the auction process, occupancy and renovation requirements:

Informational Session #1
Thursday, February 18, 2016 – 5 to 7 pm
City Council Chambers – Niagara Falls City Hall
745 Main Street – Niagara Falls, New York

Informational Session #2
Wednesday March 30, 2016 – 5 to 7 pm
City Council Chambers – Niagara Falls City Hall
745 Main Street – Niagara Falls, New York

Any questions can be directed to Seth Piccirillo, Director of Niagara Falls Community Development, at seth.piccirillo@niagarafallsny.gov.

Written by Niagara Falls Guy

Niagara Falls Guy

Buffalo and Niagara Falls are connected as a region. The cities are tied together through an economic, cultural and environmental climate. Not to mention the people that strive to make Western NY a place that is filled with growth and opportunity. Niagara Falls is an international draw that deserves ample coverage when fitting news comes to pass.

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