Kansas City buyers fix up dollar-homes
KANSAS CITY (AP) — Buyers have snapped up 45 dangerous Kansas City houses for $1 each and have a year to make them livable.
A Kansas City paper reported that the Kansas City Land Bank approved the applications Monday. The buyer's reward is an eventual $8,500 rebate — the amount it would have cost the city to flatten the houses.
Land Bank executive director Ted Anderson says the group is "thrilled" with the results. People were allowed to apply for more than one house but to buy only one.
The Land Bank still has about 800 dangerous abandoned houses.
Many people have suggested the Land Bank do another similar sale but ask for $3,000 for properties that are in better shape. Anderson said the Land Bank board of directors will consider that idea.