In a special meeting on Jan. 24, board members of the city’s Housing and Redevelopment Authority (HRA) approved the sale to Schrader Enterprises for a purchase price of $18,500.
“I was hoping we would get more, but I guess you have to be realistic,” says Faribault County commissioner Bill Groskreutz, who also serves on the HRA board.
Dick Raimann of rural Wells thinks the board could have sold the property for a higher price.
Raimann says he’s upset with how the bidding process was conducted.
“I’m pretty hot under the collar. I put in a bid of $18,500 and wasn’t given a chance to increase it,” he says.
According to Raimann, upon returning from vacation he learned the former trailer park was being sold and bids needed to be submitted to Heggen Realty.
So, he gave his bid and a check for $5,000 to the real estate firm.
Raimann says there was only one other party – Schrader Enterprises — with a bid of $17,000.
“I had the high bid. I went and talked with Schuster and told her I wasn’t happy,” he says. “They probably could have gotten $25,000 for the property.”
To read more of this article, see this week's Register.