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CDA gauging values of their properties
The Commonwealth Development Authority is looking to gauge the value of all their 41 properties and moved yesterday to sell a lot in Talofofo for a price of $64,000.
In a CDA board meeting yesterday, discussion revealed that the lot, which will be sold to a Mark Palacios, is being sold at the current market price. The buyer matched the value of the current appraisal completed this month.
The board was also asked to amend their directive on foreclosed property so that appraisals could be current for one year.
The board previously set appraisals at a six-month period. But it was noted that an appraisal every six months could be “pricey.”
This request was approved.
CDA and the board also discussed the request for proposals for their main building in Oleai. CDA is currently gauging interest in their building.
This appraisal value, though, was kept confidential and discussion was moved to an executive session.
CDA is currently updating the appraisal on 31 of their properties with their previous appraiser. The other appraisals for the other 10 properties are being put out to bid.
