Reporting Pat Loeb
By Pat Loeb
PHILADELPHIA (CBS) – The Philadelphia Housing Authority plans to put more of its unused properties on the auction block. An announcement will come later today.
PHA reversed a long-standing policy, almost two years ago, when it decided to dispose of properties that it couldn’t afford to renovate. The first two auctions, in the fall of 2011, brought some 500 properties to market. Officials say nearly 400 of them actually changed hands, netting the Authority some $7 million.
Bob Dann of Max Spann auctioneers says PHA plans to offer about 200 properties this time.
“We’ve got properties throughout the city in all kinds of neighborhoods so we expect a range from $5,000 to a couple hundred thousand.”
Dann says they’re all in need of renovation. A map of the properties and dates for information sessions will be available on the Max Spann website after the 11 a.m. announcement.