The Cherokee City Council voted to lower the lot price from $5,000 to $1,000 in the Doherty Addition and to extend the time for building a house on the lot.
Last year, the council had entered into a development agreement for sale of lots in the Doherty Addition with a company that is now undergoing bankruptcy proceedings. Wally Miller, Jr., city attorney, informed that council that, fortunately for the city, no property had transferred title to the company. Otherwise the property could be tied up in bankruptcy proceedings.
The developer had promised construction of spec housing, an aggressive sales campaign and sale of a minimum number of lots within a specified time. None of those occurred.
This brought the city back to the question raised prior to the agreement with the developer, that is how to get lots sold and houses built in a development that has had only a few lots since it was established.
The lowering of the price and an extension on building were two items that council members hoped would attract more lot buyers.
Prior to action at the Tuesday council meeting, a purchaser of a lot had one year from the time of purchase to complete construction of a house. The council vote gave the lot buyer one year to obtain a building permit and two years for building after obtaining a building permit. The current city ordinance makes building permits good for two years.
The lot price will be $1,000 with the option of buying two lots to create one larger lot. Two available half lots (created from dividing a lot for the sale of a lot and a half) will be sold for $500 each but the council specified that no more half lots would be created.
Marlene Eickholt, a property owner in the Doherty Addition, urged the city to enforce the covenants in place in the Doherty Addition.
She referred to one property that is not completely sided and does not have garage doors that has been that way for some time.