I have written a short analysis explaining why the city of Red Wing must get its own appraisal for MNGL and not rely on the bank’s appraisal. I’ve included listings of other golf courses currently offered for sale in the area and a spreadsheet comparing the data.
The City argues that it wouldn’t be prudent to spend money on its own appraisal. Really? You spend thousands of dollars on a “facilitator” for your strategic planning meetings, but it would be imprudent to pop for the cost of your own appraisal when potentially millions of dollars are at stake. Really?
The City can not fulfill its fiduciary duty owed to the public without conducting its own independent appraisal.
Council meeting Monday night, show your support, give the Council your two cents, or more.
Take a peek right here.