Nine lots up for bids
NEW ULM — In an effort to sell the nine remaining lots in the Milford Heights Phase One addition, the Economic Development Authority (EDA) has opened the property up for bids, setting minimum prices for each lot.
The nine lots vary in size and price. The EDA originally set the price for the lots at $15,000 for the smallest lots, $17,500 for the medium lots and $22,500 for the large-sized lots. The price of these lots was reduced by $2,000 to encourage sale.
The then new price listed the small lot at $12,500; the three medium-sized lots were priced at $15,00 and the five large lots were priced at $20,000.
The EDA has stated intentions to get out of the housing business and sell all homes and lots. During the February meeting, the board considered reducing the lot price again or creating a package deal to sell all remaining lots to a developer.
The board decided to solicit bids, setting a minimum bid of $8,000 for the smallest lot, $10,000 for the medium lots and $12,000 for the large properties.
The EDA will accept bids for 60 days upon advertising for the properties. The highest bid for each individual lot will be accepted.
In other news, the EDA Board reviewed the voucher conversion process in advance of the State Street Theater Apartment Project.
Construction of the State Street Apartments is tentatively scheduled to begin in November. The developers plan to use Section 8 project-based vouchers for four long-term homeless units and previously requested the EDA consider converting a portion of their Section 8 housing choice vouchers into Section 8 project-based vouchers.
Housing Coordinator Heather Bregel provided a timeline of procedures and approvals the EDA must complete to complete the voucher conversion process before the November deadline.
First, the EDA board updated the Section 8 administrative plan to include a project-based voucher policy, in advance of the plan’s public hearing and approval next month. The board must solicit requests for proposals for the project in May and complete an environmental review in July.
Board member Daniel Braam said the process was tedious but straightforward.
Economic Development Coordinator Brian Tohal gave a monthly activity report. He met with Dan Denhof, President of JR Schugel Trucking, in regards to expansion. Denhof informed Tohal the company is planning on acquiring another trucking company. JR Schugel is seeking assistance for this potential expansion.
DLC Manufacturing is looking to purchase a lot in the Airport Industrial Park and put up a new building that is 20,000 to 25,000 square feet.