NORA Raises $6.7 million In Latest Property Auction

by • October 31, 2014 • Acquisitions, Public FinanceComments (0)2212

Image via NORA Facade Renew program.

Image via NORA Facade Renew program.

The city agency responsible for putting blighted buildingd back into commerce got bids on all properties it was auctioning off last weekend, for a total estimated $6.7 Million.

In this auction, NORA sold off 88 houses and 41 vacant lots.   These were all sold with no minimum bid!

The New Orleans Redevelopment Authority (NORA) has been on a roll lately, putting 136 properties back into commerce and generating $6.4 million at an auction in March.  That auction of course comes off the heals of a monster 2013,where NORA invested nearly $80 million.

 

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