Mississippi Nation Golf Course Continued.

I attended last night’s Council meeting and the Council agreed to continue negotiating a sale.  However, given the potential impact of a sale, I think the Council will hold a public forum devoted to the issue in the near future.  It was pointed out that the sale of real property legally does not need to be put out for competitive bids.  A separate issue of course is whether there would be a benefit in doing so.  Is there a market for property subject to a 30 year lease?

I expect to see the appraisal on the property released soon.  Although not deemed public data at this point, why not release it as both sides paid for it and have reviewed it.

In order to provide some context to the current discussion, I’ve attached the Council minutes from May 12, 2008 here, and part of the Council packet here.  I don’t think you can adequately understand the Council’s current dilemma without having some insight into how we got here.

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1 Comment

Filed under Economic Development, Minnesota, Red Wing, Red Wing City Council

One response to “Mississippi Nation Golf Course Continued.

  1. Erik

    I misrepresented the facts of the lease in not saying that the annual payments do go up (not that it matters when the course is trying to sell it immediately) but even in twenty years it is only projected to reach a peak of $31,133.00 per year. It is true in 2009 the city was set to receive exactly $3,200.00 and there is no guarantee that any future capital improvements would be made by the city.

    I was also supposed to pass this along. One thing that is public about the property is that the clubhouse is assessed by the county for tax purposes at $700,000 and the city does own the clubhouse.

    Thanks again,
    ECF

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