Countywide : County Auction Termed a Success

County officials on Monday declared a weekend auction of 22 surplus properties a success, saying the event generated more than $2 million and sparked interest in all but three of the parcels.

The county had a variety of properties on the block, ranging from single-family homes near Upper Newport Bay to vacant parcels that could be used for commercial development.

All 16 residential properties sold, bringing the county a total of $2.1 million. Bidders purchased options worth more than $50,000 on three of the six commercial sites up for grabs.

“We are generally pleased with the results,” said Robert A. Griffith, director of the county’s General Services Agency.

County officials anticipated that the commercial properties would be difficult to sell because the land is now zoned for government use, and it remains unclear exactly what cities would permit private developers to build on the sites.

To generate interest in the properties, the county allowed bidders to buy options on them. For about 10% of the purchase price, bidders reserved exclusive rights to a parcel for one year while they determine whether the site meets their needs.

Options were purchased on three parcels, including lots in Anaheim and Stanton.

Griffith said the county still hopes to sell the three remaining commercial properties but that no additional auctions are planned.

The county’s first auction in June proved a disappointment to county officials because it generated just $9 million in sales--far less than the anticipated $30 million. Among the properties sold in June were a library in Seal Beach, a fire station in Santa Ana and some commercial lots across from The Pond in Anaheim.

Liquidating surplus county assets is one of the ways county officials hope to recover financially from December’s bankruptcy filing.