From Pilotonline.com:

The auction, part of the foreclosure process, doesn’t alter the bank’s plan to sell the land to conservation groups and the city for preservation, said Kristy Marshall, a spokeswoman for Wells Fargo.

“In order for us to get possession of the property, it needed to go into foreclosure,” Marshall said. “It’s just a formality, and we can now move forward with our plans.”

She said she expects the bank to be the sole bidder.