The land will be going up for auction Oct. 30, sold to the high bidder, a city attorney said.

FALL RIVER — The city owns a piece of property that is right in the middle of a neighborhood that has attracted millions of dollars in development money.

The land will be going up for auction Oct. 30, sold to the high bidder, a city attorney said.

A 1.3 acre parcel at 69R Alden St., is for sale. It is the land that once held the Parker’s Candy mill.

That mill was destroyed by fire in April 2010. Parker’s Candy closed in 1998.

Since then, Curtain Loft Apartments opened in the Wampanoag Mill on Quequechan Street. Liberty Affordable Housing is renovating the mill next door for 100 apartment units. Starr Development renovated the Cornell Mill at the end of Alden Street to open 103 market rate apartments.

“It’s not a bad piece of land at all,” said Matt Thomas, the city’s lawyer who is handling the sale. “It could be used for parking or for development.”

Union City Capital of North Kingstown, Rhode Island, came to own the land in 2007 when it foreclosed on the previous owner. The president of Union City Capital signed off on the property, giving up the rights to the city last year.

“It is rare to get to this point,” Thomas said. “Since 2011, this is only the 16th time we’ve gone to auction. Eight of those sales were in one group in a condominium development.”

The city frequently advertises for tax sale, but settles with the property owner before it reaches that point, Thomas said.

“We try to work with taxpayers,” he said. “The taxpayer always has the right to come in and pay at the last minute. We really want that to happen.”

In this case, the owner has walked away from the property. The last auction like this was of the King Phillip Mill on Kilburn Street, Thomas said.

The city is owned $146,000 in taxes, interest and fees, so that will be the suggested minimum opening bid, Thomas said.

The property will be open for a site visit on Oct. 23 at 10 a.m. The auction will be held on Oct. 30 at 10 a.m. in the atrium of Government Center.

Those interested must present a certified check for $15,000 in order to bid on the property. The checks will be returned to those who do not win the bid. The winning bidder will be required to post an additional 10 percent of the price of more than $150,000. The balance of the bid must be paid by Nov. 30, according to the advertisement for tax sale.

In the past eight years, the city has collect $20 million in past due taxes and another $5 million in fees and interest, Thomas said. Fall River has a 98 percent collection rate, which is considered very good, he said.

“We work closely with taxpayers,” he said. “We’ve been successful at it.

“We don’t want the real estate. We want the funds.”

Email Kevin P. O’Connor at koconnor@heraldnews.com.