No offers in Drumanard auction; state to consider other options
Kentucky previously failed to sell two other properties purchased by the state to meet promises made in 2003 to protect places near the path of the bridges project.
FRANKFORT, Ky. (WDRB) -- For the third time, Kentucky has been unable to sell a property purchased near the route of the Ohio River Bridges Project.
No offers were submitted at an auction of the Drumanard estate in Prospect on Thursday. The state had required a minimum bid of $3.5 million.
Kentucky previously failed to sell two other properties also purchased by the state to meet promises made in 2003 to protect places near the path of the project.
The Kentucky Transportation Cabinet plans to reevaluate how to dispose of the three properties, spokesman Ryan Watts said.
"We'll have to sit down and reassess our strategy on whether or not they'll become part of a donation or if we'll try to recapture some of the cabinet's money," Watts said.
No bids were offered at an October auction for the Rosewell estate not far from the eastern bridge under construction. The state sought a purchase price of at least $1 million.
The former Grocers Ice and Cold Storage building on E. Main Street in downtown Louisville also went unsold at a sale last June. A minimum bid of $1.205 million was required for the property, which also failed to sell in 2015.
The Drumanard property long has been a controversial part of the bridges project. The Kentucky approach to the eastern bridge passes under Drumanard's woods -- a move the U.S. government approved in 2003 to meet a federal law that requires projects to avoid historic places, if possible.
The estate is listed on the National Register of Historic Places.
Kentucky paid $8.3 million for Drumanard in 2012 -- more than $5 million over the prior sale price and $1.5 million more than the state's own appraisal said the property was worth.
The Transportation Cabinet has defended the purchase, saying it was needed for construction to advance.
Copyright 2016 WDRB Media. All rights reserved.