PHOENIX (AP) - The city of Phoenix is looking to sell hundreds of city-owned properties after an internal review found the city doesn’t need at least 656 pieces of land that it owns.
The Arizona Republic reports (https://bit.ly/2njFcnM ) that the city owns a large number of vacant lots covering 2.3 miles with a combined assessed value of more than $150 million.
City officials are now looking to dispose of excess properties by selling the land or transferring it to a different owner.
City Manager Ed Zuercher instructed his staff to review Phoenix’s portfolio of about 5,500 properties last fall. The review, which isn’t complete yet, has identified more than 650 parcels that could be disposed of.
In late 2015, the city had only identified 30 excess properties.
Information from: The Arizona Republic, https://www.azcentral.com
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