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Choggiung Ltd. high bidder for Bingman Apartments

Native village corp. to take over properties city of Dillingham foreclosed on last summer, after citing years' of unpaid taxes and fees. 

KDLG News:  At its regular monthly council meeting, the city of Dillingham announced Choggiung Ltd. was the high bidder for the properties formerly owned Jim Bingman.

The city finalized a foreclosure on the Bingman properties in July and took ownership, and also took over as landlord for the tenants in the apartments. Bids were taken for about a month, and city projects manager Steve Cropsey announced the results during Thursday's meeting. 

“I’m pleased to report that we did have two bidders on the Bingman property," he said. "The high bidder was Choggiung Investments, and their bid was $429,231.87.  As you might recall, that’s just roughly $50,000 more than our minimum bid.”

The minimum bid was $380,000, which is what the city has said it is owed, approximately, in back taxes, utility fees, and legal fees from the previous owner. The other bid the city received was from a private party, and was about $25,000 less than the Choggiung bid.  

Choggiung, the for-profit village corporation Dillingham, Portage Creek, and Ekuk, owns other rental properties in town.

Cropsey said he believes Choggiung will take ownership in early December. 

“As soon as the funds come in, the deed will be prepared and ready to exchange. That’s how the closing happens on this kind of transaction.”

According to the city, there are 11 tenants in the rental units, and not all are current on their rent payments.

The city has said that if it collects more through the auction than was owed in back taxes and fees, it can return the difference to the previous owner, Mr. Bingman.