MOUNT VERNON — With the acceptance of an offer to buy 407 N. West St., parcels held by the Knox County Land Bank have dwindled to two.
On Friday, the board of the land bank approved the offer from locally based Third First Legacy LLC to buy the North West Street property. Land Bank President Jeff Gottke said the company plans to invest around $80,000 into the house. The ultimate use is for an Airbnb or vacation rental.
Third First Legacy has six months to complete renovations to the four-bedroom, 1 1/2-baths house. Gottke anticipates to close on the sale by the end of the month. The land bank acquired the parcel in June.
The land bank is still actively working with two parcels: 504 E. Ohio Ave. and the 27-acre Shellmar site. The land bank plans to demolish the house at 504 E. Ohio Ave. as soon as possible.