ALBUQUERQUE, N.M. — Correction: An earlier version of this story reported the amount required to participate in the live auction was $100,000. The Journal was given incorrect information. The correct amount is $10,000.
The sale of the Chamisa Hills Golf and Country Club has been temporarily postponed because there were not enough “qualified” registered bidders according to current owner Harry Apodaca.
The auction was scheduled to take place today. Apodaca said although almost 40 people registered for the auction, none put down the $10,000 required to participate in the auction. Apodaca said the city’s impending water-rate increase has kept interested buyers at bay.
As a result, the company holding the auction, NavPoint Real Estate Group out of Colorado, canceled the live auction and is instead receiving “sealed bids.” Apodaca said the sealed bidding period will end June 10 but he may accept offers until June 20 if there is not enough interest.
Apodaca said during May, June, July and August he uses about 25 million gallons of water every month. He said he’s hoping the city will consider reducing the rates for the new owner since the property is one of the city’s largest water users. Starting June 2014, the charge for treated wastewater used to irrigate the course will go from 47 cents per 1,000 gallons to $3.28 per 1,000.
“With the rate increase,” he said. “There is no way this property could be viable.”
Neighbors have expressed anger and worry that the new owner will request a zone change and fill the property in with homes.