Road Home Auction for Five Parish Area Generates $1.2 Million
Courtroom A of the Calcasieu Parish Courthouse in Lake Charles was filled with a standing room only crowd of approximately 450 people for the Road Home property auction Saturday, September 25. There were 355 registered bidders helping to generate over $1.2 million.
This is the second auction to take place in the western region of the State of Louisiana. Previously, Louisiana Land Trust auctioned approximately 60 Road Home properties in Vermilion, Acadia, Iberia, Lafayette, St. Landry and St. Martin parishes. In addition to all auctioned properties, 35 parcels are being sold to individuals who live next door to Road Home properties through various parishes Lot Next Door program.
“We are very excited about helping our citizens continue to recover from Hurricanes Rita and Katrina”, said Michael Taylor, executive director, Louisiana Land Trust. “With these auctions, we now have a total of 196 Road Home properties destroyed by Hurricane Rita back into commerce. This is fulfilling our ultimate goal in the recovery process.”
The bidding was open to the public with a registration requirement.This auction, with closings to take place within 30 days after all LLT Conditions to Closing of the agreement are met, places all 100 properties back into commerce and generates Community Development Block funding for each parish.
Funding breakdown by parish:
Calcasieu – $1,035,500
Allen – $31,750
Beauregard – $56,000
Jefferson Davis – $108,000
Vernon – $3,000
“The Gilmore & Pedersen Auction Team is pleased to be a part of this very successful, five parish LLT auction”, said David E. Gilmore, president, Gilmore Auction & Realty Co. “Standing room only with over 450 attendees and a 100 percent sellout produced a win-win for the parishes and the bidders.”
The Louisiana Land Trust has been charged with the disposition and maintenance of housing stock and lots acquired through the Road Home Program that was created in the aftermath of Hurricanes Katrina and Rita. LLT has secured and maintained over 10,000 properties.
LLT hired Gilmore Auction and Realty Company to help with the disposition needs of the parishes choosing open auctions. Pedersen and Pedersen Auction Company assisted Gilmore and Company with this auction.
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