Poplar Bluff city leaders expect to seek new bids for 25 acres of property on Shelby Road near the planned site of a new police department.
One bid for a total of $45,000 was received for the property, which was packaged as five separate lots in a proposal published by the city at the beginning of February.
The single bid was made by Benjamin Asa Wyatt of BWBC Investments, according to city clerk Nevada Young. The bid was opened Tuesday.
The bid will be taken back to the city council, but is expected to be rejected, said city manager Matt Winters.
“We’re going to look at a few different options,” said Winters.
This could include marketing the property in a broader area, he said.
“We’ll continue to work with Kurt Knodell and Nathan Maurer of Poplar Bluff Realty,” Winters said. “After talking with them, we think the recent cold weather and the first of the year may have impacted the lower interest than expected.”
The city purchased 58 acres of property on Shelby Road in 2020 for just over $1 million. About four acres will be used for construction of a new police department. Another 20 acres is located in a floodway.
City council members hope to sell the remaining 25 acres.
This property was broken up into five lots for sale, all with Shelby Road access: Lot B – 3 acres; Lot C – 4 acres; Lot E – 10.69 acres; Lot F – 5.71 acres; and Lot G – 2. 44 acres.
Wyatt said Wednesday his bid of $45,000 for all five lots was based on what he believes the property is worth.
“I think the city should establish a minimum bid, maybe with an appraisal. They should definitely rebid,” said Wyatt, of Poplar Bluff.
Wyatt said he opposed the original purchase of the Shelby Road property and the stated appraisal given at that time by city officials of $4.5 million.
“I wrote a letter to each of the council members at the time of the purchase warning that I didn’t think it was worth the purchase,” Wyatt said. “I would say that a single bid received of $45,000 shows it may have been a little overvalued.”
Mayor Robert Smith and Mayor pro tem Steve Davis declined to comment on the matter.