No bidders interested in Octagon House
By Stephanie Lulay firstname.lastname@example.org January 23, 2014 10:10AM
Updated: February 25, 2014 6:20AM
AURORA — No developers or builders submitted bids to the city after officials asked for proposals from those interested in rehabbing Aurora’s historic Octagon House.
City staff will now soon return to the City Council Finance Committee with alternative strategies for dealing with the property at 83 North Ave., according to Aurora spokesman Dan Ferrelli. New plans will be presented to City Council by mid-February, he said.
In late November, the city sought proposals from developers interested in rehabbing the Octagon House, “a small home with big and unique challenges,” said Jeff McLaughlin, manager of the city’s Neighborhood Redevelopment Division. Under the unique deal, the city planned to give the Octagon property to the lowest responsible bidder for $1 in exchange for a historically sensitive, substantial rehabilitation of the building.
“This is not a grand mansion, but a rare home that was meant to be practical through design,” McLaughlin said in November.
Because the property is currently held under the city’s Neighborhood Stabilization Program, the project is subject to federal regulations that govern the program. Because of federal rules, in order to make the deal work, the city would have had to pay $59,282 to “buy out” the property from the NSP program so that the house can be freed from federal regulations.
If bidders came forward, the city also planned to consider kicking additional grant funds from the Historic Preservation Grant and Residential Restoration programs as an incentive.
The city purchased 83 North Ave., which features a 1,227-square-foot home, under the NSP program in April 2010. In September 2012, city staff executed a public bid to rehab the property into a single-family home. The lowest responsible bid for the project was $198,440, according to city documents.
A 2006 City of Aurora Historic Districts and Landmark Guidelines document states the home was built around 1870.